7. At December 31. 2014 the Corporation: 1,2014 the following balances existed on the books of F Bonds Payable Discount on Bonds Payable Interest Payable $4,000,000 660,000 0 If the bonds are retired on January 1, 2015, at 102, what will Foxworth report as a loss on redemption? A) $740,000 B) $640,000 C) $540,000 D) $400,000 E) None of the above 8. Didde Company issues $12,000,000 face value of bonds at 96 on January 1,2013. The ds are dated January 1, 2013, pay interest semiannually at 8% on June 30 and December 31, and mature in 10 years. Straight-line amortization is used for discounts and premiums. On June 30, 2016 (7 semi-annual periods after bond date)the bonds are bought back at 103. What gain or loss would be recognized on the called bonds on June 30, 2016? A) $1,200,000 loss B) $552,000 loss C) $672,000 loss D) $907,000 loss E) None of the above bon