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Bonds Payable has a balance of $836,000 and Premium on Bonds Payable has a balance of $9,196. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $836,000 and Premium on Bonds Payable has a balance of $9,196. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

a.$9,196 gain

b.$861,080 gain

c.$15,884 loss

d.$9,196 loss

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