Business, 27.01.2020 22:31 josmanu235

On january 1, 2020, ryan corp. issued 2,000 of its 10%, $1,000 bonds for $2,080,000. these bonds were to mature on january 1, 2030 but were callable at 101 any time after december 31, 2023. interest was payable semiannually on july 1 and january 1. on july 1, 2025, ryan called all of the bonds and retired them. bond premium was amortized on a straight-line basis. before income taxes, which of the following is ryan's gain or loss in 2025 on this early extinguishment of debt?

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On january 1, 2020, ryan corp. issued 2,000 of its 10%, $1,000 bonds for $2,080,000. these bonds wer...

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