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Weygandt, Accounting Principles, 12e the Assume Gradebook ORION Downloadable eTextbook Brief Exercise 15-6 The balance sheet

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Solution:

Date Accounting title Debit Credit
1-July Bond payable 2,500,000
Loss on Redemption of bond 225,000
Discount on Bond payable 100,000
Cash ($2500000*105%) 2,625,000
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