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Bonds Payable has a balance of $885,000 and Premium on Bonds Payable has a balance of $9,735. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $885,000 and Premium on Bonds Payable has a balance of $9,735. If the issuing corporation redeems the bonds at 103, what is the amount of gain or loss on redemption? a.$16,815 loss b.$911,550 gain c.$9,735 gain d.$9,735 loss

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