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May you please help me with this, thank you On January 1. 2020 Jinn Inc. issued 10-year, 10%$100,000 bonds for 105 , because the market
May you please help me with this, thank you
On January 1. 2020 Jinn Inc. issued 10-year, 10%$100,000 bonds for 105 , because the market rate of interest on that date was 8%. The bonds pay interest annually on December 31 st each year. One year later on January 1, 2021, Jinn Inc. retires the $100,000 bonds by repurchasing them in the market for $106,000. What is the amount of gain or loss on the retirement of the bonds? $1.000 loss $500 gain $1,000gain $2,600 loss $2,600 gain Question 11 4pts A company reissues 800 shares of treasury stock for $35 per share. The treasury stock was originally repurchased at a cost of $40 per share. Which of the following journal entries would the company record to account for the reissue of the treasury stock? Cash $28,000$4,000 Loss on Reissue Treasury Stock $32,000 Cash $28,000$4,000 Additional Paid in Capital Treasury Stock $32,000 Cash $28,000 Treasury Stock $28,000 Cash $28,000$4.000 Retained Eamings Treasury Stock $32,000 None of the above Step by Step Solution
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