Multiple Choice
On 1 May 2017,Metro Company has debentures with balances as shown below. 
If Metro redeems the debentures for $52 000,what will be the effect on the income statement?
A) There will be sales revenue of $3 140.
B) There will be a gain on redemption of $3 140.
C) There will be a loss on redemption of $3 140.
D) There will be no effect on profit.
Correct Answer:
Verified
Correct Answer:
Verified
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