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Bonds Payable has a balance of $874,000 and Discount on Bonds Payable has a balance of $8,740. If the issuing corporation redeems the bonds at

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Bonds Payable has a balance of $874,000 and Discount on Bonds Payable has a balance of $8,740. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? Oa. $13,110 gain b. $13,110 loss Oc. C. $8,740 gain d. $8,740 loss

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