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Business, 05.08.2019 23:30 jmarie87

Acompany issues $1,500,000 of par bonds at 98 on january 1, year 1, with a maturity date of december 31, year 30. bond issue costs are $90,000, and the stated interest rate of the bonds is 6%. interest is paid semiannually on january 1 and july 1. ten years after the issue date, the entire issue was called at 102 and canceled. the company uses the straight-line for amortization, not materially different from effective interest method. the company should classify what amount as the loss on extinguishment of debt at the time the bonds are called?

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Acompany issues $1,500,000 of par bonds at 98 on january 1, year 1, with a maturity date of december...
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