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Consolidated gain or loss on constructive retirement of debt retirement of the bond reported in the consolidated income statement for the year ended December 31,
Consolidated gain or loss on constructive retirement of debt retirement of the bond reported in the consolidated income statement for the year ended December 31, 2019. Assume straight-line amortization. a. On June 30, 2019, P issues directly to S bonds that have a par value of $80,000. S paid $83,200 for the bonds. The term of the bonds is 10 years and they have an 8 percent stated interest rate. Interest is paid annually on December 31 . 8 percent stated interest rate. Interest is paid annually on December 31. 8 percent stated interest rate. Interest is paid annually on December 31. have an 8 percent stated interest rate. Interest is paid annually on December 31. Note: If there is no gain or loss, enter zero for the amount and select N/A for Gain or Loss answer. Do not use negative signs with any of your answers. \begin{tabular}{|c|c|c|c|c|} \hline Case & & Amount & & Loss \\ \hline 3. & $ & 02 & N/f & \\ \hline b. & $ & 0 & / N/A & \\ \hline E. & $ & 0 x & Gai & ^ \\ \hline d. & $ & 0 & Los & ^ \\ \hline \end{tabular}
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