Enterprise Group issued $100,000 of 3-year, 6% bonds outstanding on December 31, 2015 for $106,000. Enterprise uses straight-line amortization. On May 1, 2016, $10,000 of the bonds were retired at 110. As a result of the retirement, Enterprise will report a:
O $400 loss.
$46,710 loss.
O $1,100 loss.
O $1,100 gain.
