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Bonds Payable has a balance of $873,000 and Premium on Bonds Payable has a balance of $9,603. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $873,000 and Premium on Bonds Payable has a balance of $9,603. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption?

a.$16,587 loss

b.$899,190 gain

c.$9,603 loss

d.$9,603 gain

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