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Question - On February 1, 2006 John Lovlace issued 10%, $1,000,000 bonds for $1,116,000 JLI retired all of these bonds on January 1, 2007, at 102. Unamortized bond premium on that date was $92,800. How much gain or loss should be recognized on this bond retirement?
$0 gain
$111,800 gain
$ 72,800 gain
$102,800 gain
Explain ABC costing and how it is different than traditional costing. Explain the advantages/disadvantages of using ABC costing
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