A $300,000 bond issue with a carrying value of $311,000 is called at 103 and retired. The entry to record the retirement of bonds is:
A) Bonds Payable 309,000 Cash 309,000
B) Bonds Payable 311,000 Cash 311,000
C) Cash 300,000 Bonds Payable 300,000
D) Bonds Payable 300,000 Unamortized BondPremium 11,000Cash 309,000Gain on Retirementof Bonds 2,000
D
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