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Posted on Jul 17, 2024

A $291,000 bond was redeemed at 104 when the carrying value of the bond was $345,000. The journal entry for the redemption would include a

a.gain on bond redemption of $42,360.

b.loss on bond redemption of $42,360.

c.loss on bond redemption of $54,000.

d.gain on bond redemption of $54,000.

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