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During 20x1 Legion Company issued 8%, $2,000,000 bonds for $2,300,000. Legion retired all of these bonds on March 1, 20x2, at 102. The unamortized
During 20x1 Legion Company issued 8%, $2,000,000 bonds for $2,300,000. Legion retired all of these bonds on March 1, 20x2, at 102. The unamortized bond premium on that date was $204,000. What is the amount of gain or loss should Legion should recognize on this bond retirement? Multiple Choice $184,000 gain $164.000 gain. 50 gain.
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