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On February 1, Year 1, Pat Weaver Inc. (PWI) issued 9%, $1,600,000 bonds for $1,900,000....

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Accounting

On February 1, Year 1, Pat Weaver Inc. (PWI) issued 9%, $1,600,000 bonds for $1,900,000. PWI retired all of these bonds on January 1, Year 2, at 106. Unamortized bond premium on that date was $169,600. How much gain or loss should be recognized on this bond retirement? $171,000 gain. $144,000 gain. $73,600 loss. $73,600 gain. None of the above

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