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Metlock, Inc. acquires 90 Groupers 11%, 5 year, $1000 bonds on January 1, 2022 for $90000. If sells all of its Groupers Bonds for $88900
Metlock, Inc. acquires 90 Groupers 11%, 5 year, $1000 bonds on January 1, 2022 for $90000. If sells all of its Groupers Bonds for $88900 what gain or loss is recognized?
Gain of $11000
Loss of $1100
Loss of $11000
Gain of $1100
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