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Business, 21.01.2021 22:40 supershannon103

On January 1, 2016, Goll Corp. issued 3,000 of its 10%, $1,000 bonds for $3,120,000. These bonds were to mature on January 1, 2026 but were callable at 101 any time after December 31, 2019. Interest was payable semiannually on July 1 and January 1. On July 1, 2021, Goll called all of the bonds and retired them. Bond premium was amortized on a straight-line basis. Before income taxes, Goll's gain or loss in 2021 on this early extinguishment of debt was

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On January 1, 2016, Goll Corp. issued 3,000 of its 10%, $1,000 bonds for $3,120,000. These bonds wer...
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