A $500,000 bond is retired at 97 when the carrying amount of the bond is $480,000. The
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A $500,000 bond is retired at 97 when the carrying amount of the bond is $480,000. The entry to record the retirement would include a:
$5,000 loss.
$15,000 gain.
$2,000 gain.
$20,000 loss.
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