Hickenlooper Company retired a $900,000, 7% bond issue at 98. If the unamortized discount is $7,200, the entry will include a:
A) Debit to loss on bond retirement for $10,800
B) Credit to gain on bond retirement for $10,800
C) Debit to loss on bond retirement for $7,200
D) Credit to gain on bond retirement for $7,200
Correct Answer:
Verified
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