On january 1 2010 lisa co. issued 50000 of 9 ten-year bonds, Ask an Expert

Accounting

On January 1, 2010, Lisa Co. issued $50,000 of 9% ten-year bonds at 98. Issuance costs amounted to $2,000. On July 1, 2015, all of the bonds were called at 103. What was the loss on bond retirement, assuming the use of straight-line amortization?

Select one:

a. $4,750

b. $1,950

c. $4,200

d. $2,500

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946041

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