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24 Bonds Payable has a balance of $844,000 and Premium on Bonds Payable has a balance of $9,284. If the issuing corporation redeems the bonds

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24

Bonds Payable has a balance of $844,000 and Premium on Bonds Payable has a balance of $9,284. If the issuing corporation redeems the bonds at 102 , what is the amount of gain or loss on redemption? a. $7,596 loss b. $9,284 loss c. $7,596 gain d. $9,284 gain

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