On January 1, 2024, Purtel Company issued $350,000 of 5%, five-year bonds payable at 101. Purtell Company has extra cash and wishes to retire the bonds payable on January 1, 2025, immediately after making the second semiannual interest payment. To retire the bonds, Purtell pays the market price of 96. Read the resuirements. Assume bonds payable are amortized using the straight-line amortization method.) Requirement 1. What is Purtell Company's carrying amount of the bonds payable on the retirement date? The carrying amount of the bonds payable on the retirement date is Requirement 2. How much cash must Purtell Company pay to retire the bonds payable? To retire the bonds, Purtell Company must pay Requirement 3. Compute Purtell Company's gain or loss on the retirement of the bonds payable. (Use parentheses or a minus sign for losses.) Purtell Company's gain or loss on the retirement of the bonds payable is Requirements 1. What is Purtell Company's carrying amount of the bonds payable on the retirement date? 2. How much cash must Purtell Company pay to retire the bonds payable? 3. Computo Purtel Company's gain or loss on the retirement of the bonds payable Print Done Remaining: 01:07:54 Next kon