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Business, 22.04.2021 18:50 ToriChristine

Blossom Company received proceeds of $1,025,000 on 10-year, 6% bonds issued on January 1, 2019. The bonds had a face value of $1,088,000, pay interest annually on December 31, and have a call price of 103. Blossom uses the straight-line method of amortization. Blossom Company decided to redeem the bonds on January 1, 2021. What amount of gain or loss would Blossom report on its 2021 income statement

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Blossom Company received proceeds of $1,025,000 on 10-year, 6% bonds issued on January 1, 2019. The...
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