This Question: 2 pts 10 of 41 (0 complete) This Test: 100 pts poss On July 1, 2019, Montana Company has bonds with balances as shown below. Bonds Payable 73,000 Discount on Bonds Payable 4,500 If the company retires the bonds for $75,150, what will be the effect on the income statement? A. loss on retirement of $6,650 sales revenue of S68.500 no effect on net income O B. C. O D. gain on retirement of $6,650