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At December 31, 2017 the following balances existed on the books of Rentro Corporation: Bonds Payable $7,000,000 Discount on Bonds Payable 980,000 Interest Payable 168,000
At December 31, 2017 the following balances existed on the books of Rentro Corporation:
Bonds Payable $7,000,000
Discount on Bonds Payable 980,000
Interest Payable 168,000
If the bonds are retired on January 1, 2018, at 102, what will Rentro report as a loss on redemption?
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