Eatsy Corp owes Hardy, Inc, $30,000 on a note payable, plus $1,800 interest. Hardy agrees to accept 400 shares of Eatsy common stock in full settlement of the debt. Eatsy stock has a par value of $10 and a current market value of $70 per share. As a result of the debt restructuring, Eatsy Corp should record an
A) ordinary loss of $1,800.
B) extraordinary gain of $1,800.
C) ordinary gain of $3,800.
D) extraordinary gain of $3,800.
C
Business
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Indicate whether this statement is true or false.
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