On 15 October 2016,Rural Sales has a debenture with balances as shown below. If Rural Sales wishes to redeem the debentures for $82 000,what will be the effect on the income statement?
A) Loss on redemption of $2 600
B) Loss on redemption of $2 000
C) Gain on redemption of $2 600
D) Gain on redemption of $2 000

Question

On 15 October 2016,Rural Sales has a debenture with balances as shown below.  If Rural Sales wishes to redeem the debentures for $82 000,what will be the effect on the income statement?
A) Loss on redemption of $2 600 
B) Loss on redemption of $2 000 
C) Gain on redemption of $2 600 
D) Gain on redemption of $2 000

Quizplus · Accepted Answer

The Answer of On 15 October 2016,Rural Sales has a debenture with balances as shown below.  If Rural Sales wishes to redeem the debentures for $82 000,what will be the effect on the income statement?
A) Loss on redemption of $2 600 
B) Loss on redemption of $2 000 
C) Gain on redemption of $2 600 
D) Gain on redemption of $2 000

On 15 October 2016,Rural Sales Has a Debenture with Balances