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Clabber Company has bonds outstanding with a par value of $124,000 and a carrying value...

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Accounting

Clabber Company has bonds outstanding with a par value of $124,000 and a carrying value of $111,700. If the company calls these bonds at a price of $107,000, the gain or loss on retirement is:
Multiple Choice
$4,700 gain.
$4,700 loss.
$17,000 loss.
$12,300 loss.
$12,300 gain.
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