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What will sheffield report as a loss on redemption

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Reference no: EM132568508

At December 31, 2017 the following balances existed on the books of Sheffield Corp.:

Bonds Payable                    $6140000

Discount on Bonds Payable      850000

Interest Payable                   154000

Question 1: If the bonds are retired on January 1, 2018, at 102, what will Sheffield report as a loss on redemption?

Option a) $614000

Option b) $818800

Option c) $1126800

Option d) $972800

Reference no: EM132568508

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