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Horton Company redeemed $400,000 face value, 12% bonds at 96 on July 31, 2019. The...

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Accounting

Horton Company redeemed $400,000 face value, 12% bonds at 96 on July 31, 2019. The carrying value of the bonds on the retirement date was $428,500. The bonds pay annual interest and the interest payment due on July 31, 2019, has been made and recorded.

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