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Bonds Payable has a balance of $1,020,000 and Discount on Bonds Payable has a balance of $10,200. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $1,020,000 and Discount on Bonds Payable has a balance of $10,200. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? $15,300 gain $15,300 loss $10,200 loss $10,200 gain

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