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Make the journal entries to record the redemption

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Problem - Brighton Unlimited sold bonds at a premium for $630,000 (premium of $30,000) eight years ago.

(a) The corporation redeems $60,000 of this issue at 98. The unamortized premium is $600.

(b) The corporation redeems $90,000 of this issue at 102. The unamortized premium is $900.

Make the journal entries to record the redemption in (a) and (b).

Reference no: EM132724314

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