On April 1, 2021, Flummery Corporation purchased on the open market $100,000 of its 10-year 7% (interest paid semiannually)bonds and retired them. They are purchased at $102,000. These bonds were originally sold at their $100,000 face value on January 2, 2019. Prepare the journal entries necessary for this transaction.

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The Answer of On April 1, 2021, Flummery Corporation purchased on the open market $100,000 of its 10-year 7% (interest paid semiannually)bonds and retired them. They are purchased at $102,000. These bonds were originally sold at their $100,000 face value on January 2, 2019. Prepare the journal entries necessary for this transaction.

On April 1, 2021, Flummery Corporation Purchased on the Open