On February 1, 2015, Pat Weaver Inc. (PWI) issued 7%, $1,500,000 bonds for $1,800,000. PWI...
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| On February 1, 2015, Pat Weaver Inc. (PWI) issued 7%, $1,500,000 bonds for $1,800,000. PWI retired all of these bonds on January 1, 2016, at 105. Unamortized bond premium on that date was $157,500. How much gain or loss should be recognized on this bond retirement? |
$82,500 gain.
$105,000 gain.
$126,000 gain.
$0 gain.
Please list step by step on how to do this problem. Thank you so much
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