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Bonds Payable has a balance of $856,000 and Premium on Bonds Payable has a balance of $9,416. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $856,000 and Premium on Bonds Payable has a balance of $9,416. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

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