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The balance sheet of River Electronics Corporation as of December 31,2023, included 11.50% bonds having...

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Accounting

The balance sheet of River Electronics Corporation as of December 31,2023, included 11.50% bonds having a face amount of $91.4 million. The bonds had been issued in 2016 and had a remaining discount of $4.4 million at December 31,2023. On January 1,2024, River Electronics called the bonds before their scheduled maturity at the call price of 103.
Required:
Prepare the journal entry by River Electronics to record the redemption of the bonds at January 1,2024.
Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.
Journal entry worksheet
1
Record the redemption of the bonds.
Note: Enter debits before credits.
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