Multiple Choice
On January 1, 2010, Lisa Co.issued $50, 000 of 9% ten-year bonds at 98.Issuance costs amounted to $2, 000.On July 1, 2015, all of the bonds were called at 103.What was the loss on bond retirement, assuming the use of straight-line amortization?
A) $1, 950
B) $2, 500
C) $4, 200
D) $4, 750
Correct Answer:
Verified
Correct Answer:
Verified
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