Multiple Choice
A corporation retired $900,000 of bonds which have an unamortized discount of $30,000,by repurchasing them for $920,000.How much was the gain or loss on the retirement of the bonds?
A) There was a $50,000 loss.
B) There was a $10,000 loss.
C) There was a $10,000 gain.
D) There was a $20,000 loss.
Correct Answer:
Verified
Correct Answer:
Verified
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