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On January 1, 2017, Monty Corporation redeemed $640,000 of bonds at 99. At the time...

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Accounting

On January 1, 2017, Monty Corporation redeemed $640,000 of bonds at 99. At the time of redemption, the unamortized premium was $19,200. Prepare the corporations journal entry to record the reacquisition of the bonds.

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