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  • 17-06-2017
  • Business
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A $300,000 bond was redeemed at 104 when the carrying value of the bond was $316,000. the entry to record the redemption would include a

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 17-06-2017
Hi there

300,000×1.04
=312,000

316,000−312,000
=4,000 gains
So the answer
gain on bond redemption of $4,000
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