Multistar Inc.,has decided to call one-half of its bonds payable.In accordance with the bond contract,Multistar Inc.may call and retire the bonds at 103.Immediately before the retirement,the balance sheet for Multistar Inc.reports: $\begin{array}{ll}
10 \% \text { bonds payable } & \$ 300,000 \
\text { Premium on bonds payable } & 14,800
\end{array}$ What is the amount of the gain or loss on retirement?

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The Answer of Multistar Inc.,has decided to call one-half of its bonds payable.In accordance with the bond contract,Multistar Inc.may call and retire the bonds at 103.Immediately before the retirement,the balance sheet for Multistar Inc.reports: $\begin{array}{ll}
10 \% \text { bonds payable } & \$ 300,000 \
\text { Premium on bonds payable } & 14,800
\end{array}$ What is the amount of the gain or loss on retirement?

Multistar Inc 10% bonds payable $300,000 Premium on bonds payable 14,800\begin{array}{ll}10 \% \text { bonds payable } & \$ 300,000 \\\text { Premium on bonds payable } & 14,800\end{array}10% bonds payable Premium on bonds payable ​$300,00014,800​

Multistar Inc $\begin{array}{ll}10 \% \text { bonds payable } & \$ 300,000 \\\text { Premium on bonds payable } & 14,800\end{array}$