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7. NOP Corp issued a bond a few years ago. It has a face value...

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Accounting

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7. NOP Corp issued a bond a few years ago. It has a face value of $100,000 and a current balance in the bond discount of $4,800. Though the bond will mature in 3 years, NOP decides to retire/extinguish the bond carly. When retiring, the bond was trading at a price of 98.2. Show the journal entry for this retirement.

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