Question
in January 1 2015, Black Company issued a 8% callable bond which has a par value of $100,000 for $90,000. The bond is callable at
in January 1 2015, Black Company issued a 8% callable bond which has a par value of $100,000 for $90,000. The bond is callable at 105 any time after January 1, 2020. The entire bond was called back on January 1, 2021 when the unamortized discount had a balance of $1,500. Calculate the amount of the gain or loss when the bond was retired on January 1, 2021.
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Introduction to Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen
7th edition
978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792
