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What amount of loss should Sheridan recognize

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Question - On January 1, 2021, S Company redeemed its 15-year bonds of $7080000 par value for 103. They were originally issued on January 1, 2009 at 93 with a maturity date of January 1, 2024. Sheridan amortizes discounts and premiums using the straight-line method. What amount of loss should Sheridan recognize on the redemption of these bonds (ignore taxes)?

Reference no: EM132910388

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