What is the gain or loss on the retirement, Accounting Basics

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What is the gain or loss on the retirement

On April 30, 2012, one year before maturity, Red Products, Inc. retired $150,000 of 8% bonds payable at 103. The book value of the bonds on April 30 was $144,600. Bond interest was last paid on April 30, 2012. What is the gain or loss on the retirement of the bonds?

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Accounting Basics: What is the gain or loss on the retirement

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