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8. Bonds Payable has a balance of $927,000 and Discount on Bonds Payable has a balance of $9,270. If the issuing corporation redeems the bonds

Bonds Payable has a balance of $927,000 and Discount on Bonds Payable has a balance of $9,270. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption?

a.$9,270 gain

b.$9,270 loss

c.$13,905 loss

d.$13,905 gain

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