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A firm retires a $100,000 face value bond at 101. At the time the bond is retired, the premium on the bond payable is
A firm retires a $100,000 face value bond at 101. At the time the bond is retired, the premium on the bond payable is $2,200. The entry to record the redemption: Does not result in a gain or loss O Includes a gain of $3,200 O Includes a gain of $1,200 O Includes a loss of $1,200 O Includes a loss of $3,200
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