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  3. company pays $110,000 to retire a bond early. at t

Company pays $110,000 to retire a bond early. At the time of retirement, the bond...

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Accounting

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Company pays $110,000 to retire a bond early. At the time of retirement, the bond payable is on the balance sheet for $100,000 and the the premium on the bond is carried at $2,000. What is the gain or loss on the retirement of the bond? $8,000 gain $8,000 loss $9,000 loss $9,000 gain

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