Record the retirement of bonds.
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Record the retirement of bonds.
Bonds are a liability of the company. Bonds can be retired at par value, at more than par value or less than par value.
If the price paid to retire a bond is greater than the carrying amount of bonds, the issuer recognizes a loss on retirement. But if the price paid is less than the carrying amount of the bonds at retirement, the issuer records a gain on retirement of bonds.
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