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QUESTION 30 (5 points) On July 31, 2020, AOTD Inc. made an interest payment on an outstanding bond. The next day the company retired $7,500,000
QUESTION 30 (5 points) On July 31, 2020, AOTD Inc. made an interest payment on an outstanding bond. The next day the company retired $7,500,000 (face value) of the bonds at 102. At the time of retirement, the bonds had an unamortized premium of $488,000. How much of a gain or loss did AOTD Inc. record on its 2020 income statement? (LE 4) $638,000 loss O $150,000 loss O $338,000 gain $488,000 gain
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