Multiple Choice
A $400,000 bond was retired at 103 when the carrying amount of the bond was $408,000. The entry to record the retirement would include a
A) gain on bond redemption of $12,000.
B) loss on bond redemption of $4,000.
C) loss on bond redemption of $12,000.
D) gain on bond redemption of $4,000.
Correct Answer:
Verified
Correct Answer:
Verified
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