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Problem based on sale on the gain

Question:

During 2005, Plano Co. purchases 2,000, $1,000, 9% bonds. The carrying value of the bonds at December 31, 2007 was $1,960,000. The bonds mature on March 1, 2012, and pay interest on March 1 and September 1. Plano sells 1,000 bonds on September 1, 2008, for $988,000, after the interest has been received. Plano uses straight-line amortization. The sale on the gain is...?

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Finance Basics: Problem based on sale on the gain

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