Solved: Tony orlando called the bonds retired them on july 1 2019, Accounting Basics

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Tony orlando called the bonds retired them on july 1 2019

Question - On January 1, 2019, Tony Orlando Industries had outstanding $1,000,000 of 12% bonds with a book amount of $966,130. The indenture specified a call price of $981,000. The bonds were issued previously at a price to yield 14%. Tony Orlando called the bonds (retired them) on July 1, 2019. What is the amount of the loss on early extinguishment?

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Accounting Basics: Tony orlando called the bonds retired them on july 1 2019

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