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Bonds Payable has a balance of $962,000 and Premium on Bonds Payable has a balance of $10,582. If the issuing corporation redeems the bonds at

Bonds Payable has a balance of $962,000 and Premium on Bonds Payable has a balance of $10,582. If the issuing corporation redeems the bonds at 102, what is the amount of gain or loss on redemption? Select the correct answer, 18,658 $10,582 gain $10,582 $8,658 prinimage text in transcribed

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