Extinguishment of Bonds Prior to Maturity On December 1, 2017, Cone Company issued its 9%, $750,000 face value bonds for $870,000, plus accrued interest. Interest is payable on November 1 and May 1. On December 31, 2019, the book value of the bonds, inclusive of the unamortized premium, was $800,000. On July 1, 2020, Cone reacquired the bonds at 98 plus accrued interest. Cone appropriately uses the straight-line method for the amortization because the results do not materially differ from those of the effective interest method. Required: Prepare a schedule to compute the gain or loss on this redemption of debt. Enter all values as positive values. Cone Company Computation of Gain on Extinguishment of Debt July 1, 2020 Book value of bonds on December 1, 2017 $fill in the blank 1 Book value of bonds on December 31, 2019 fill in the blank 2 Amortization for 25 months $fill in the blank 3 Monthly amortization $fill in the blank 4 Book value of bonds on December 31, 2019 $fill in the blank 5 Amortization for January 1 to July 1, 2020 fill in the blank 6 Book value of bonds on July 1, 2020 $fill in the blank 7 Cost of reacquisition fill in the blank 8 Gain on bond redemption $fill in the blank 9

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