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Bonds Payable has a balance of $750,000, and Discount on Bonds Payable has a balance of $12,500. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $750,000, and Discount on Bonds Payable has a balance of $12,500. If the issuing corporation redeems the bonds at 99, is there a gain or loss on the bond redemption?

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