12. Why would a company wish to reduce its bond ind before its bonds reach maturity? Indicate how this can be the correct accounting treatment for such a transaction. 13. How are gains and losses from extinguishment of a fied in the income statement? What disclosures are requi transactions? 14. What is done to properly record a transaction in issuance of a non-interest-bearing long-term note in property? 15. How is the present value of a non-interest-bearing no 16. When is the stated interest rate of a debt instrum to be fair? 17. What are the considerations in imputing an appr rate? 18. Differentiate between a fixed-rate mortgage and mortgage. 19. What is the fair value option? Briefly describe th applying the fair value option to financial liabilities. 20. Pierre Company has a 12% note payable with of $20,000. Pierre applies the fair value option to t increase in market interest rates, the fair value of t $600 Brief Exercises Ban BE13.1 (LO 1) Whiteside Corporation issues $ able semiannually. At the time of