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Wednesday, 08.01.2025, Calendar Week 02, 8th day of the year, 357 days remaining until EoY.

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3248. On June 30, 2024, CCC INC. had outstanding 10% P250,000 face amount 15-year bonds maturing on June 30, 2034. Interest is paid on June 30 and December 31, and bond discount and bond issue costs are amortized on these dates. The unamortized balances on June 30, 2024 of bond discount and bond issue costs were P13,750 and P5,000 respectively. CCC INC. reacquired all of these bonds at 96 on June 30, 2024 and retired them. Compute for the gain or loss on bond retirement. a. Loss of P3,750 c. Gain of P1,250 b. Loss of P8,750 d. Gain of P10,000

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