Question
On February 1, 2020, Pat Weaver Inc. (PWI) issued 7%, $1,900,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2021,
On February 1, 2020, Pat Weaver Inc. (PWI) issued 7%, $1,900,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2021, at 102 Unamortized bond premium on that date was $193,800. How much gain or loss should be recognized on this bond retirement? Multiple Choice $155,800 gain. $0 gain. *Untitled Notepad File Edit Format View Help NO NEED TO PROVIDE WORK, I JUST NEED THE CORRECT ANSWER, NOTHING MORE. PLEASE DO NOT WASTE YOUR TIME TO SHOW WORK X 100% Windows (CRLF) UTF-8 $133,000 gain. $154,000 gain.
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Introduction to Management Accounting
Authors: Charles Horngren, Gary Sundem, Jeff Schatzberg, Dave Burgsta
16th edition
978-0133058819, 9780133059748, 133058816, 133058786, 013305974X , 978-0133058789
