A company retired $900,000 of bonds which have an unamortized discount of $30,000,by paying bondholders $920,000.What is the amount of the gain or loss on the retirement of the bonds?
A)There was a $50,000 loss.
B)There was a $10,000 loss.
C)There was a $10,000 gain.
D)There was a $20,000 loss.

Question

Quizplus · Accepted Answer

The Answer of A company retired $900,000 of bonds which have an unamortized discount of $30,000,by paying bondholders $920,000.What is the amount of the gain or loss on the retirement of the bonds?
A)There was a $50,000 loss.
B)There was a $10,000 loss.
C)There was a $10,000 gain.
D)There was a $20,000 loss.

A Company Retired $900,000 of Bonds Which Have an Unamortized