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Question
chang company retired bonds with a face amount of 90,000,000 at 98 when the carrying value of the bond was 89,670,000. the entry to record the retirement would include a
a.gain on bond redemption of 1,470,000
b.loss on bond redemption of 330,000
c.loss on bond redemption of 1,800,000
d.gain on bond redemption of 2,130,000
Answer
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