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What net carrying amount should be used

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Question - On June 30, 2021, Crane Company had outstanding 7%, $7900000 face amount, 15-year bonds maturing on June 30, 2031. Interest is payable on June 30 and December 31. The unamortized balance in the bond discount account on June 30, 2021 was $355000. On June 30, 2021, Crane acquired all of these bonds at 93 and retired them. What net carrying amount should be used in computing gain or loss on this early extinguishment of debt?

Reference no: EM133110882

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