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A $600,000 bond was retired at 98 when the carrying value of the bond was $608,000. The entry to record the retirement would include a

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A $600,000 bond was retired at 98 when the carrying value of the bond was $608,000. The entry to record the retirement would include a loss on bond redemption of $18,000. loss on bond redemption of $20,000. gain on bond redemption of $30,000. gain on bond redemption of $20,000

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