A company retires its bonds at 105. The face value is $100,000 and the carrying value of the bonds at the retirement date is $103,745. The issuer's journal entry to record the retirement will include a:
A. Debit to Discount on Bonds.
B. Debit to Premium on Bonds.
C. Credit to Bonds Payable.
D. Credit to Gain on Bond Retirement.
E. Credit to Premium on Bonds.
Answer: B
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Answer the following statement true (T) or false (F)
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