On June 30, 2005, Tow Co. had outstanding 8%, $3,000,000 face amount, 15-year bonds that matured on June 30, 2015. Interest is payable on June 30 and December 31.
The unamortized balances in the bond discount and deferred bond issue costs accounts on June 30, 2005 were $90,000 and $40,000, respectively. On June 30, 2005, Tow acquired all these bonds at 94 and retired them.
What net carrying amount should be used in computing gain or loss on this early extinguishment of debt?

2. On January 1, year 1, Fan Corp. issued 1,200 of its 10%, $1,000 bonds for $1,260,000. These bonds were to mature on January 1, year 11 but were callable at 102 any time after December 31, year 4. Interest was payable semiannually on July 1 and January 1.

On October 1, year 6, Fan called all of the bonds and retired them.

The bond premium was amortized on a straight-line basis. Before income taxes, Fan's gain or loss in year 6 on this early extinguishment of debt was

On January 1, 20X4, Hill Corp. issued 300 of its $1,000 face value bonds at 103 plus accrued interest. The bonds were dated November 1, 20X3, and bear interest at an annual rate of 8% payable semiannually on November 1 and May 1. What amount did Hill receive from the bond issuance?