A corporation recently retired $1,000,000 worth of bonds early for $997,500. They reported a gain related to the retirement of the bonds of $24,250. What was the unamortized bond discount or premium at the time of retirement?
A) $24,250 premium
B) $26,750 premium
C) $21,750 discount
D) $21,750

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The Answer of A corporation recently retired $1,000,000 worth of bonds early for $997,500. They reported a gain related to the retirement of the bonds of $24,250. What was the unamortized bond discount or premium at the time of retirement?
A) $24,250 premium
B) $26,750 premium
C) $21,750 discount
D) $21,750

A Corporation Recently Retired $1,000,000 Worth of Bonds Early for $997,500