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QUESTION
On february 1, 2015, pat weaver inc. (pwi) issued 10%, $1,000,000 bonds for $1,300,000. pwi retired all of these bonds on january 1, 2016, at 104. unamortized bond premium on that date was $104,000. h
On february 1, 2015, pat weaver inc. (pwi) issued 10%, $1,000,000 bonds for $1,300,000. pwi retired all of these bonds on january 1, 2016, at 104. unamortized bond premium on that date was $104,000. how much gain or loss should be recognized on this bond retirement? $0 gain. $130,000 gain. $100,000 gain. $64,000 gain.
