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Company A owes a note to Bank B. During 2022, Com cancel the entire debt. The note has a face value of $3 $521,000, and

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Company A owes a note to Bank B. During 2022, Com cancel the entire debt. The note has a face value of $3 $521,000, and a fair value of $280,000. How much gair loss of $22,000 and gain of $63,000 gain of $63,000 and gain of $22,000 gain of $41,000 and gain of $22,000 loss of $41,000 and gain of $70,000 pusiness deteriorated due to a faltering regional economy. On May 3, 20 nd a discount balance of $48,000 on this date. The building has a cost of the disposition of building and on restructuring of debt should Compan? ay 3, 2022, Bank B agrees to accept a building and cost of $760,000, accumulated depreciation of Company A record, respectively? Company A owes a note to Bank B. During 2022, Com cancel the entire debt. The note has a face value of $3 $521,000, and a fair value of $280,000. How much gair loss of $22,000 and gain of $63,000 gain of $63,000 and gain of $22,000 gain of $41,000 and gain of $22,000 loss of $41,000 and gain of $70,000 pusiness deteriorated due to a faltering regional economy. On May 3, 20 nd a discount balance of $48,000 on this date. The building has a cost of the disposition of building and on restructuring of debt should Compan? ay 3, 2022, Bank B agrees to accept a building and cost of $760,000, accumulated depreciation of Company A record, respectively

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