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On January 1,2019 , TSLA Corporation issued 2,300 of its 10%,$1,000 bonds for $2,386,000 . These bonds were to mature on January 1, 2029, but
On January 1,2019 , TSLA Corporation issued 2,300 of its
10%,$1,000
bonds for
$2,386,000
. These bonds were to mature on January 1, 2029, but were callable at 101 any time after December 31, 2022. Interest was payable : ally on July 1 and January 1.\ On July 1, 2024, TSLA called all of the bonds au retired them. The bond premium was amortized on a straight-line basis.\ Before income taxes, TSLA Corporation's gain or loss in 2024 on this early extinguishment of debt was?\
$66,000
gain.\
$15,700
gain.\
$24,300
gain.\
$23,000
loss.
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