Problem 14-46 (b) (LO. 2, 3) Sophie purchased $100,000 of Stoudemire Corporation face value bonds for $86,000 on November 19, 2019. The bonds had been issued with $14,000 of original issue discount (OID), because Stoudemire was in financial difficulty in 2019. On November 30, 2020, Sophie sold the bonds for $87,000 after amortizing $1,200 of the original issue discount. What are the nature and amount of Sophie's gain or loss? Sophie has $ 2,200 x of ordinary income x from the sale of the bonds. Feedback Check My Work Original issue discount arises when the issue price of a debt obligation is less than the maturity value of the obligation. Problem 14-46 (b) (LO. 2, 3) Sophie purchased $100,000 of Stoudemire Corporation face value bonds for $86,000 on November 19, 2019. The bonds had been issued with $14,000 of original issue discount (OID), because Stoudemire was in financial difficulty in 2019. On November 30, 2020, Sophie sold the bonds for $87,000 after amortizing $1,200 of the original issue discount. What are the nature and amount of Sophie's gain or loss? Sophie has $ 2,200 x of ordinary income x from the sale of the bonds. Feedback Check My Work Original issue discount arises when the issue price of a debt obligation is less than the maturity value of the obligation