A Company Has Bonds Outstanding with a Par Value of $100,000

question 41

Multiple Choice

A company has bonds outstanding with a par value of $100,000. The unamortized premium on these bonds is $2,700. If the company retired these bonds at a call price of 99, the gain or loss on this retirement is:

• A) $1,000 loss.
• B) $3,700 gain.
• C) $2,700 gain.
• D) $1,000 gain.
• E) $2,700 loss.

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