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Business, 27.05.2020 13:57 jaidenlaine9261

Brooks Company received proceeds of $188500 on 10-year, 8% bonds issued on January 1, 2018. The bonds had a face value of $200000, pay interest annually on January 1, and have a call price of 101. Brooks uses the straight-line method of amortization. Brooks Company decided to redeem the bonds on January 1, 2020. What amount of gain or loss would Brooks report on its 2020 income statement? $9200 gain $11200 gain $11200 loss $9200 loss

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Brooks Company received proceeds of $188500 on 10-year, 8% bonds issued on January 1, 2018. The bond...
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