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What is the amount of gain or loss on redemption

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Question - Bonds Payable has a balance of $873,000 and Premium on Bonds Payable has a balance of $9,603. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

a. $16,587 loss

b. $899,190 gain

c. $9,603 loss

d. $9,603 gain

Reference no: EM132556451

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