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Make the journal entries to record the reacquisition

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Problem - Redemption of Bonds Prior to Maturity - Hill Corporation issued $1,500,000 of 11% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 31. The bonds had a 10-year life from the date of issue, and the company uses the straight-line method of amortization. On March 31, 2022, Hill recalls the bonds at the call price of 107 plus accrued interest.

Required - Make the journal entries to record the reacquisition (recall) of Hill's bonds.

Reference no: EM132888836

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