Multiple Choice
Ervay Company has $3,500,000 of bonds outstanding.The unamortized premium is $50,400.If the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
A) $15,400 gain
B) $15,400 loss
C) $35,000 gain
D) $35,000 loss
Correct Answer:
Verified
Correct Answer:
Verified
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