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Bonds Payable has a balance of $899,000 and Discount on Bonds Payable has a balance of $8,990. If the issuing corporation redeems the bonds at

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Bonds Payable has a balance of $899,000 and Discount on Bonds Payable has a balance of $8,990. If the issuing corporation redeems the bonds at 97.5, what is the amount of gain or loss on redemption? Oa. $13,485 loss Ob. $13,485 gain Oc. $8,990 gain Od. $8,990 loss

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