Multiple Choice
The Big Co.issued $100,000 of bonds for their face value six years ago.This year,it retires the bonds for $105,000.As a result of retiring these bonds,it:
A) reduces its liabilities by $105,000.
B) reduces its assets by $100,000.
C) reports a gain of $5,000.
D) reports a loss of $5,000.
Correct Answer:
Verified
Correct Answer:
Verified
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