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Ajax inc issued callable bonds with a par value of 1000000

Question - Ajax, Inc., issued callable bonds with a par value of $1,000,000 that require the payment of a call premium of $10,000. The bonds have a carrying value of $990,000. We call these bonds prior to maturity on September 30. Please explain the calculation and journal entry.

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Accounting Basics: Ajax inc issued callable bonds with a par value of 1000000

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Accounting Basics: Ajax inc issued callable bonds with a par value of 1000000

Reference No:- TGS02928433

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