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Make corporations journal entry to record the redemption

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Reference no: EM132519724

On January 1, 2020, Sage Hill Incorporated redeemed bonds prior to their maturity date of January 1, 2021. The face value of the bonds was $470,000, and the redemption was performed at 95. As at the redemption date, the unamortized premium was $9,040.

Question 1: Prepare the corporation's journal entry to record the redemption of the bonds.

Reference no: EM132519724

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