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On January 1, 2020, Brick Corp. acquired some of the outstanding bonds of one of its subsidiaries. The bonds had a carrying value of $767,620,

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On January 1, 2020, Brick Corp. acquired some of the outstanding bonds of one of its subsidiaries. The bonds had a carrying value of $767,620, and Brick paid 5663,937 for them. How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2020 a The difference is netted with the carrying value of the bonds b. The difference is added to the Bonds Payable account The difference is removed in the consolidation process The difference treated as a ga s om retirement of bonds on the income Statement

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