Multiple Choice
A $100,000 bond was retired at 95 when the carrying amount of the bond was $103,000. The entry to record the retirement would include a:
A) gain on bond redemption of $8,000.
B) loss on bond redemption of $3,000.
C) loss on bond redemption of $8,000.
D) gain on bond redemption of $3,000.
Correct Answer:
Verified
Correct Answer:
Verified
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