Entry to record the retirement problem

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Reference no: EM13150892

A $600,000 bond was retired at 103 when the carrying value of the bond was $622,000. The entry to record the retirement would include a:

a) loss on bond redemption of $18,000.

b) gain on bond redemption of $18,000.

c) loss on bond redemption of $12,000.

d) gain on bond redemption of $4,000.

Reference no: EM13150892

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