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On July 1, 2019, immediately after recording interest payments, Salsa, Inc. retired one fifth of its $522,000 of bonds payable for $99,700. The bonds were
On July 1, 2019, immediately after recording interest payments, Salsa, Inc. retired one fifth of its $522,000 of bonds payable for $99,700. The bonds were originally issued at par value in 2014. Which of the following statements is correct? Multiple Choice ) Again of $4,700 will be reported on the income statement. o O Again of $422,300 will be reported on the income statement. o Stockholders' equity is not affected by the bond retirement. o C) A loss of $4,700 will be reported on the income statement
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