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Delta Company Issued Bonds with a Face Amount of $2,000,000

Question 241

Essay

Delta Company issued bonds with a face amount of $2,000,000 in 2008. As of January 1, 2014, the unamortized discount on bonds payable is $6,400. At that time, Delta redeemed the bonds at 101.
Instructions
Assuming that no interest is payable, make the entry to record the redemption.

Correct Answer:

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