Fun Zone receives authorization to issue $920,000 of 10%, 2 year bonds dated Jan. 1, 2015 that mature on Dec. 31,2017 and pay interest semiannually on June 30th and Dec 31st. The current market rate is 10%. After one year, Fun Zone decided to reacquire the bond for $900,000. Which of the following is true:

Fun Zone records does not record either a loss or gain from distinguishment for the bond reacquisition

Fun Zone records a par from distinguishment for the bond reacquisition

Fun Zone records a loss from distingshment for the bond reacquisition

Fun Zone records a gain from distinguishment for the bond reacquisition