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On July 1, 2017, Adams Company has bonds with balances as shown below. If the company retires the bonds for $70,150, what will be the

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On July 1, 2017, Adams Company has bonds with balances as shown below. If the company retires the bonds for $70,150, what will be the effect on the income statement? A. loss on retirement of $1.650 B. gain on retirement of $5,950 C. gain on retirement of $1,650 D. loss on retirement of $5,950

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