Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected...
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Tony Hawk's Adventure (THA) issued callable bonds on January 1, 2021. THA's accountant has projected the following amortization schedule from issuance until maturity: Interest Expense Increase in Carrying Value Cash Paid Date 01/01/2021 06/30/2021 12/31/2021 06/30/2022 12/31/2022 06/30/2023 12/31/2023 $23,400 23,400 23,400 23,400 23,400 23,400 $25,999 26,181 26,375 26,584 26,806 27,045 $ 2,599 2,781 2,975 3,184 3,406 3,645 Carrying Value $ 371,410 374,009 376,790 379,765 382,949 386,355 390,000 THA buys back the bonds for $374,760 immediately after the interest payment on 12/31/2021 and retires them. What gain or loss, if any, would THA record on this date? Multiple Choice $15,240 gain. $2,030 gain No gain or loss
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