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At December 31, 2017 the following balances existed on the books of Foxworth Corporation: Bonds Payable $4,000,000 Discount on Bonds Payable 320,000 Interest Payable 100,000

At December 31, 2017 the following balances existed on the books of Foxworth Corporation:

Bonds Payable $4,000,000

Discount on Bonds Payable 320,000

Interest Payable 100,000

If the bonds are retired on January 1, 2018, at 102, what will Foxworth report as a loss on redemption?

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