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Prepare the corporation journal entry to record redemption

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Reference no: EM132519705

Point 1: 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: EM132519705

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