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Bonds Payable has a balance of $1,064,000 and Discount on Bonds Payable has a balance of $10,640. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $1,064,000 and Discount on Bonds Payable has a balance of $10,640. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? Oa. $15,960 loss Ob. $10,640 loss Oc. $15,960 gain Od. $10,640 gain

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