When bonds are called for retirement,any excess of the bonds' call price over the bonds' carrying value is reported as a loss on the income statement.

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When bonds are called for retirement, any excess of the bond's call price over the bond's carrying value is reported as a loss on the income statement. This is because the company is paying more than the bond is currently worth, resulting in a loss.

When Bonds Are Called for Retirement,any Excess of the Bonds