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Gain or loss on transaction

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Reference no: EM13151030

A bond issued with a face value of $200,000 and a carrying amount of $195,500 is paid off at 98 1/2 and retired. The gain or loss on this transaction is:

A) $3,000 loss

B) $1,500 loss

C) $1,500 gain

D) $3,000 gain

Reference no: EM13151030

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