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What will Concord report as a loss on redemption

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Question - At December 31, 2017 the following balances existed on the books of Concord Corporation:

Bonds Payable $6070000

Discount on Bonds Payable 845000

Interest Payable 145000

If the bonds are retired on January 1, 2018, at 101, what will Concord report as a loss on redemption?

$1050700

$905700

$607000

$760700

Reference no: EM132251870

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