A $1060000 bond was issued at 97 and repaid at maturity. The entry to record the retirement would include…

A $1060000 bond was issued at 97 and repaid at maturity. The entry to record the retirement would include…

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A $1060000 bond was issued at 97 and repaid at maturity. The entry to record the retirement would include a
Ⓒ a credit to Cash for $1028200.
O a debit to Discount on Bonds Payable for $31800.
O a debit to Bonds Payable for $1060000.
O a debit to Interest Expense for $31800.

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The detailed answer for the above question is provided below When a bond is issued at a discount in
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