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What the loss on retirement

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Question - The 10% bonds payable of Coronado Industries had a carrying amount of $4250000 on December 31, 2020. The bonds, which had a face value of $4090000, were issued at a premium to yield 8%. Coronado uses the effective-interest method of amortization. Interest is paid on June 30 and December 31. On June 30, 2021, several years before their maturity, Coronado retired the bonds at 104 plus accrued interest. What the loss on retirement, ignoring taxes?

Reference no: EM132938963

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