A $500,000 bond is retired at 97 when the carrying amount of the bond is $480,000. The entry to record the retirement would include a:
A) $20,000 loss.
B) $15,000 gain.
C) $5,000 loss.
D) $2,000 gain.

Question

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The Answer of A $500,000 bond is retired at 97 when the carrying amount of the bond is $480,000. The entry to record the retirement would include a:
A) $20,000 loss.
B) $15,000 gain.
C) $5,000 loss.
D) $2,000 gain.

A $500,000 Bond Is Retired at 97 When the Carrying