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What is the gain or loss on retirement

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Question - On January 1, Spot Inc, spends $618,00 to retire its callable bonds. On the call date, these bonds have a new carrying value of $582,000 and face value of $600,000. What is the gain or loss on retirement?

$36,000 loss

$12,000 gain

$12,000 loss

$36,000 gain

Reference no: EM132801908

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