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winrow company received proceeds of $754,000 on 10-year, 8% bonds issued on January 1, 2016....

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Accounting

winrow company received proceeds of $754,000 on 10-year, 8% bonds issued on January 1, 2016. The bonds had a face value of $800,000, pay interest semi-annually on June 30th and December 31st, and have a call price of 101(101% of face value). Winrow uses the straight-line method of amortization. Winrow Company decided to redeem the bonds on January 1, 2018. What amount of gain or loss would Winrow report on its 2018 income statement.

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