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ABC Company decides to retire $300,000 bonds, callable at 101, which is 101%. At the time of retirement the balance sheet had the following account

ABC Company decides to retire $300,000 bonds, callable at 101, which is 101%. At the time of retirement the balance sheet had the following account balances:

Bonds Payable 300,000

Unamortized Discount 5,000

What is the amount of gain or loss ABC will record to retire this bond?

loss or gain?

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