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X2 issued callable bonds on January 1, 2021. The bonds pay interest annualy on December 31 each year X2's accountant has projected the following amortization
X2 issued callable bonds on January 1, 2021. The bonds pay interest annualy on December 31 each year X2's accountant has projected the following amortization schedule from issuance until maturity Decrease in Interest Carrying Carrying Value Date Cash Paid Expense Value 01/01/2021 $ 109,138 12/31/2021 9,975 $9,277 12/31/2022 $698 758 822 892 968 108,440 107,682 106, 860 105,968 105,000 9,975 975 9,217 9,153 9,083 9,007 12/31/2023 9,975 9,975 9,975 12/31/2025 X2 buys back the bonds for $108,100 immediately after the interest payment on 12/3/2022 and retires them. What gain or loss, if any, would X2 record on this date? Multiple Choice No gain or Loss
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