Unamortized bond premium, On February 1, 2012, Pat Weaver Inc. (PWI) issued 8%,, Accounting Basics

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Unamortized bond premium

On February 1, 2012, Pat Weaver Inc. (PWI) issued 8%, $1,200,000 bonds for $1,500,000. PWI retired all of these bonds on January 1, 2013, at 102. Unamortized bond premium on that date was $122,400. How much gain or loss should be recognized on this bond retirement?

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Accounting Basics: Unamortized bond premium

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