Multiple Choice
Genesis reported that bonds with a face value of $100,000 and a carrying value of $67,000 are retired for $60,000 cash,resulting in a loss of $7,000.The amount to be reported in the financing section is
A) $(3,000)
B) $57,000
C) $58,000
D) $60,000
E) This item is not reported
Correct Answer:
Verified
Correct Answer:
Verified
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