Because interest rates have fallen, a company retires bonds which had been issued at their face value of $240,000. The company bought the bonds back at 96.00. The journal entry to record this retirement includes a debit of:
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Home » Business » Because interest rates have fallen, a company retires bonds which had been issued at their face value of $240,000. The company bought the bonds back at 96.00. The journal entry to record this retirement includes a debit of: