Multiple Choice
A $750,000 bond was retired at 103 when the carrying value of the bond was $777,500. The entry to record the retirement would include a
A) gain on bond redemption of $22,500.
B) loss on bond redemption of $5,000.
C) loss on bond redemption of $22,500.
D) gain on bond redemption of $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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