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QUESTION 15 On October 11, 2020, The Los Angeles Lakers acquired some of the outstanding bonds of one of its subsidiaries, The Miami Heat. The

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QUESTION 15 On October 11, 2020, The Los Angeles Lakers acquired some of the outstanding bonds of one of its subsidiaries, The Miami Heat. The bonds had a carrying value of 5401,937. and The Lakers paid $421,620 for them. How should you account for the difference between the carrying value and the purchase price in the consolidated financial statements for 2020? The difference is added to the carrying value of the debt. The difference is deducted from the carrying value of the debt. The difference is treated as a gain from the extinguishment of the debt. The difference is treated as a loss from the extinguishment of the debt. The difference does not influence the consolidated financial statements

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