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What is the gain on redemption

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Reference no: EM131609492

Question - At December 31, 2017, the following balances existed:

Bonds Payable $1,500,000

Premium on Bonds Payable 120,000

Interest Payable 37,000

Unamortized Bond Issue Costs 90,000

30% of the bonds are retired at 101 on Jan 1, 2018. What is the gain on redemption?

Reference no: EM131609492

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