A $100,000 bond issue with a carrying value of $103,000 is called at 101 and retired. The entry to record the retirement of bonds would be:
a. Bonds Payable 101,000
Loss on Retirement of Bonds 2,000
Cash 103,000
b. Bonds Payable 100,000
Unamortized Bond Premium 3,000
Cash 101,000
Gain on Retirement of Bonds 2,000
c. Bonds Payable 100,000
Loss on Retirement of Bonds 3,000
Cash 103,000
d. Bonds Payable 103,000
Cash 103,000
B
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