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Clabber Company has bonds outstanding with a par value of $108,000 and a carrying value...

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Accounting

Clabber Company has bonds outstanding with a par value of $108,000 and a carrying value of $102,100. If the company calls these bonds at a price of $99,000, the gain or loss on retirement is:

  • $5,900 loss.

  • $3,100 gain.

  • $9,000 loss.

  • $3,100 loss.

  • $5,900 gain.

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