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24. A corporation has Bonds Payable with a face value of $1,000,000 and an amortized cost (carrying value ) of $985,000. If the corporation redeems
24. A corporation has Bonds Payable with a face value of $1,000,000 and an amortized cost (carrying value ) of $985,000. If the corporation redeems the bonds at 97.5, what is the gain or loss on redemption? A. $10,000 loss B. $25,000 loss C. $10,000 gain D. $25,000 gain
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