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Nonamiya [84]
3 years ago
7

A corporation issued 8% bonds with a par value of $1,000,000, receiving a $20,000 premium. On the interest date 5 years later, a

fter the bond interest was paid and after 40% of the premium had been amortized, the corporation purchased the entire issue on the open market at 99 and retired it. The gain or loss on this retirement is:______

Business
1 answer:
Mrac [35]3 years ago
3 0

Answer:

$22,000 gain.

Explanation:

Please see attachment

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