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Posted on Jul 10, 2024

A $309,000 bond was redeemed at 104 when the carrying value of the bond was $346,000. The entry to record the redemption would include a

a. gain on bond redemption of $37,000.

b. gain on bond redemption of $24,640.

c. loss on bond redemption of $37,000.

d. loss on bond redemption of $24,640.

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