Honework 4 course.com/platform/mod/quiz/attempt.phplattompt-16991828page-10 enu

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Honework 4 course.com/platform/mod/quiz/attempt.phplattompt-16991828page-10 enu QuESTON 11 Tries rwmaning1 a u o 150 Fgueon Determining Gain or Loss on Bond Redemption on January 1 , 2016, two years betore maturity. Easton Company reres$400,000 of its 8.5% bonds payable at the current market price of 1021102% of the bond face amount, or soa00x 1.02- 5408.0001, The bond book value on January 1, 2016 is s397,000 reflecting an unsmortized discount of $3.000. Bond interest is presently fuly paid and recorded up to the date of retirement. What is the sain or loss on retirement of these bonds? Previous page Finish attempt v Aers 10 8 5 6 8 0

Explanation / Answer

Loss on retirement of Bonds = 408000-397000 = $11000

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