Multiple Choice
A corporation retired $500,000 of bonds, which have an unamortized discount of $10,000, by repurchasing them for $500,000. How much was the gain or loss on the retirement of the bonds?
A) There was no gain or loss.
B) There was a $10,000 loss.
C) There was a $10,000 gain.
D) There was a $500,000 loss.
Correct Answer:
Verified
Correct Answer:
Verified
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