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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

Answer :

Aliwohaish12 Aliwohaish12

Today at 10:12 PM

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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