Chang Industries has bonds outstanding with a par value of $200,000 and a carrying value of $203,000.If the company calls these bonds at a price of $201,000,the gain or loss on retirement is:
A)$1,000 gain.
B)$2,000 loss.
C)$3,000 gain.
D)$1,000 loss.
E)$2,000 gain.

Question

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The Answer of Chang Industries has bonds outstanding with a par value of $200,000 and a carrying value of $203,000.If the company calls these bonds at a price of $201,000,the gain or loss on retirement is:
A)$1,000 gain.
B)$2,000 loss.
C)$3,000 gain.
D)$1,000 loss.
E)$2,000 gain.

Chang Industries Has Bonds Outstanding with a Par Value of $200,000