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Rembrandt enterprises called 400 of its 1000 face value

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Rembrandt Enterprises called 400 of its $1,000 face value bonds that had been outstanding for 7 years of the scheduled 30 year life. The bonds were recorded on the books, when called, at $400,000 and had a market value of $417,500. The company paid $1,020 for each called bond. What amount of gain or loss should the company report from this transaction?

Reference no: EM13608190

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