Carter Inc. retired a $250,000, 5% bond issue at 94. If the unamortized premium is $1,260, the entry will include a:

Select one:

a. Debit to loss on bond retirement for $16,260.

b. Credit to gain on bond retirement for $16,260.

c. Credit to gain on retirement for $1,260.

d. Debit to loss on bonds payable for $1,260.

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