Multiple Choice
A $300,000 bond was redeemed at 98 when the carrying value of the bond was $295,000. The entry to record the redemption would include a
A) loss on bond redemption of $5,000.
B) gain on bond redemption of $5,000.
C) gain on bond redemption of $1,000.
D) loss on bond redemption of $1,000.
Correct Answer:
Verified
Correct Answer:
Verified
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