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Kant Corp. retires its $100,000 face value bonds at 102 on

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Kant Corp. retires its $100,000 face value bonds at 102 on Jan. 1, following the payment of interest. The carrying value of the bonds at the redemption date is $96,250. What is the entry to record the redemption?
(I am stuck on this one, and cannot find where I am getting off track.)
Submitted: 5 years ago.
Category: Homework
Expert:  Manal Elkhoshkhany replied 5 years ago.
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