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At December 31, 2020 the following balances existed on the books of Crane Company: Bonds Payable $6900000 Discount on Bonds Payable 970000 Interest Payable 165000

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At December 31, 2020 the following balances existed on the books of Crane Company: Bonds Payable $6900000 Discount on Bonds Payable 970000 Interest Payable 165000 If the bonds are retired on January 1, 2021, at 101, what will Crane report as a loss on redemption? O $1204000 $935000 O $1039000 O $690000

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