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Bonds Payable has a balance of $4,000,000 and Premium on Bonds Payable has a balance of $85,000. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $4,000,000 and Premium on Bonds Payable has a balance of $85,000. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? 2 answers

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