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What is the loss on retirement for nyman company

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Reference no: EM132850036

problem 1: The 12% bonds payable of Nyman Company had a carrying amount of P832,000 on December 31, 2021. The bonds, which had a face value of P800,000, were issued at a premium to yield 10%. Nyman uses the effective-interest method of amortization. Interest is paid on June 30 and December 31. On June 30, 2022, several years before their maturity, Nyman retired the bonds at 104 plus accrued interest. The loss on retirement is

Reference no: EM132850036

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