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Posted on Aug 14, 2024

A $285,000 bond was redeemed at 98 when the carrying value of the bond was $277,875. The entry to record the redemption would include a

a. loss on bond redemption of $1,425.

b. loss on bond redemption of $7,125.

c. gain on bond redemption of $5,700.

d. gain on bond redemption of $1,425.

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