Pharoah Company has $1520000 of bonds outstanding. The unamortized premium is $21900. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption? a) $6700 gain
b) $6700 loss
c) $15200 gain
d) $515200 loss

Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)