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At December 31, 2020 the following balances existed on the books of Sheridan Company: Bonds Payable Discount on Bonds Payable Interest Payable $6940000 989000 168000

At December 31, 2020 the following balances existed on the books of Sheridan Company: Bonds Payable Discount on Bonds Payable Interest Payable $6940000 989000 168000 If the bonds are retired on January 1, 2021, at 101, what will Sheridan report as a loss on redemption? $939000 O $694000 O $1058400 O $1226400

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