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A $500,000 bond was retired at 108 when the carrying value of the bond was $544,000. The entry to record the retirement would include a

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A $500,000 bond was retired at 108 when the carrying value of the bond was $544,000. The entry to record the retirement would include a A. gain on bond redemption of $40,000. B. loss on bond redemption of $4,000. C. loss on bond redemption of $40,000. D. gain on bond redemption of $4,000

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