MSG Corporation issued $102,000 of 3-year, 7% bonds outstanding on December 31, 2023 for $106,000. The bonds pay interest annually and MSG uses straight-line amortization. On May 1, 2024, $10,200 of the bonds were retired at 120. As a result of the retirement, MSG will report a: Multiple Choice $3,280 loss. $3,280 gain. $1,640 loss. $1,684 loss.

MSG Corporation issued $102,000 of 3 yeat, 7% bonds outstanding on December 31,2023 for $106,000. The bonds pay interest annually and MSG uses straight-line amortization On May 1,2024, 510,200 of the bonds were retired at 120. As a result of the retirement, MSG will report a: Mutple Croice $3,280ios 53,28000m $1,640iom siesiots