Swifty Corporation issues $24950000 face value of bonds at 94 on January 1, 2019. The bonds are dated January 1, 2019, pay interest semiannually at 8% on June 30 and December 31, and mature in 10 years. Straight-line amortization is used for discounts and premiums. On September 1, 2022, $14970000 of the bonds are called at 103 plus accrued interest. What loss would be recognized on the called bonds on September 1, 2022?

$1017960 loss

$1237960 loss

$1497000 loss

$1471710 loss

Answer rating: 100% (QA)

Q Discount on Bonds 24950000 1094 1497000 Amortization of d... View the full answer