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licoricemom
Mar 24, 2009, 07:39 PM
Pima compay acquires 50, 10%, 5 year, $1000 community bonds and then sells them for $52,000 and pays $1500 in brokerage commissions what gain or loss is recognized?
0
gain of $2,000
Loss of $750
Gain of $750
Gain of $3,00
ROLCAM
Mar 24, 2009, 09:35 PM
It seems clear enough that the gain is $500.