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  1. business
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  3. on january 1,2020, marin corporation issued $5,130

On January 1,2020, Marin Corporation issued $5,130,000 of 10% bonds at 102 due December 31,2029....

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Accounting

On January 1,2020, Marin Corporation issued $5,130,000 of 10% bonds at 102 due December 31,2029. Marin paid $81,000 in bond issue costs when the bonds were issue to the market. These will be amortized over the life of the bond. The premium on the bond's is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method")
The bonds are callable at 104(i.e., at 104% of face amount), and on January 2,2025, Marin called one-half of the bonds and retired them.
Ignoring income taxes, compute the amount of loss, if any, to be recognized by Marin as a result of retiring the $2,565,000 of bonds in 2025.
Loss on redemption
$
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