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What is the gain on the sale

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Question - During 20x1, Brandon Inc. purchased 1951, $1,000, 6.6% bonds. The bonds mature on March 1, 20x6, and pay interest on March 1 and September 1. The carrying value of the bonds at December 31, 20x1 was $1839644. On September 1, 20x2, after the semi-annual interest was received, Brandon sold half of these bonds for $988844. Brandon uses straight-line amortization and has accounted for the bonds under the amortized cost model. What is the gain on the sale?

Reference no: EM132429321

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