Question: On its December 3 1 , 2 0 2 4 balance sheet, Sunland Corp. reported bonds payable of $ 6 0 9 0 0 0

On its December 31,2024 balance sheet, Sunland Corp. reported bonds payable of $6090000. The bonds had been issued at par. On January 2,2025, Sunland retired $3045000 of the outstanding bonds at par plus a call premium of $75000. What amount should Sunland report in its 2025 income statement as a loss on extinguishment of debt?
$37500
$0
$30450
$75000
On its December 31,2024 balance sheet, Sunland Corp. reported bonds payable

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