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Consolidated gain or loss on constructive retirement of debt retirement of the bond reported in...

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Accounting

image Consolidated gain or loss on constructive retirement of debt retirement of the bond reported in the consolidated income statement for the year ended December 31, 2019. Assume straight-line amortization. a. On June 30, 2019, P issues directly to S bonds that have a par value of $80,000. S paid $83,200 for the bonds. The term of the bonds is 10 years and they have an 8 percent stated interest rate. Interest is paid annually on December 31 . 8 percent stated interest rate. Interest is paid annually on December 31. 8 percent stated interest rate. Interest is paid annually on December 31. have an 8 percent stated interest rate. Interest is paid annually on December 31. Note: If there is no gain or loss, enter zero for the amount and select N/A for Gain or Loss answer. Do not use negative signs with any of your answers. \begin{tabular}{|c|c|c|c|c|} \hline Case & & Amount & & Loss \\ \hline 3. & $ & 02 & N/f & \\ \hline b. & $ & 0 & / N/A & \\ \hline E. & $ & 0 x & Gai & ^ \\ \hline d. & $ & 0 & Los & ^ \\ \hline \end{tabular}

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