Bonds outstanding with a par value

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Reference no: EM13906973

Clabber Company has bonds outstanding with a par value of $100,000 and a carrying value of $97,300. If the company calls these bonds at a price of $95,000, the gain or loss on retirement is:

$5,000 loss

$2,700 gain

$2,700 loss

$2,300 loss

$2,300 gain

Reference no: EM13906973

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