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Call - Best Buy My Home CengageNOW2 Online teaching and Calculator Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a

Call - Best Buy My Home CengageNOW2 Online teaching and Calculator Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $15,500. If the issuing corporation redeems the bonds at 98 1/2, what is the amount of gain or loss on redemption? Ca. $15,500 gain b. $500 loss c. $15,500 loss d. $500 gain

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