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Find how much is the gain or loss on the sale

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Problem 1: On January 1, 20x1, ABC Co. acquired 12%, ?1,000,000 bonds for ?1,049,737. The principal is due on January 1, 20x4 but interest is due annually starting December 31, 20x1. The bonds are classified as investment measured at amortized cost. The yield rate on the bonds is 10%. On September 30, 20x2, the entire bonds were sold at 110. Commission paid to the broker amounted to ?10,000. How much is the gain (loss) on the sale?

Reference no: EM132659722

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