Blossom Company sold $6,900,000,8%, 15-year bonds on January 1, 2025. The bonds were dated January...
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Blossom Company sold $6,900,000,8%, 15-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on December 31. The bonds were sold at 95.
At January 1, 2027, when the carrying of the bonds was $6,601,000, the company redeemed the bonds at 105. Record the redemption of the bonds, assuming that interest for the year had already been paid.
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