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Determine the gain or loss on this transaction

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Reference no: EM133105832

Question - A bond issued with a par value of $200,000 and a carrying amount of $195,500 is retired at 98.5. Determine the gain or loss on this transaction?

A) $3,000 loss.

B) $3,000 gain.

C) $1,500 loss.

D) $1,500 gain.

Reference no: EM133105832

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