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14 June, 15:45

A $300,000 bond was redeemed at 104 when the carrying value of the bond was $316,000. the entry to record the redemption would include a

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  1. 14 June, 16:14
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    Hi there

    300,000*1.04

    =312,000

    316,000-312,000

    =4,000 gains

    So the answer

    gain on bond redemption of $4,000
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