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On February 1, 2020, Pat Weaver Inc. (PWI) issued 10%, $1,400,000 bonds for $1,700,000. PWI...

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Accounting

On February 1, 2020, Pat Weaver Inc. (PWI) issued 10%, $1,400,000 bonds for $1,700,000. PWI retired all of these bonds on January 1, 2021, at 103. Unamortized bond premium on that date was $144,200. How much gain or loss should be recognized on this bond retirement?

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