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Business, 21.09.2019 14:50 isabeltorres5

On june 30, 20x1, after paying the semiannual interest due and recording amortization of bond discount, hake redeemed its 15-year, 8% $1,000,000 par bonds at 102. hake has a policy to redeem bonds when it is advantageous to do so. the bonds, which had a carrying amount of $940,000 on january 1, 20x1, had originally been issued to yield 10%. hake used the effective interest method of amortization and paid interest and recorded amortization on june 30. compute the amount of gain or loss on the redemption of the bonds.

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On june 30, 20x1, after paying the semiannual interest due and recording amortization of bond discou...
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