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On December 31, 2015, the Peter and Paul Company has a Bonds Payable account with a balance of $100,000 and a related Bond Premium account

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On December 31, 2015, the Peter and Paul Company has a Bonds Payable account with a balance of $100,000 and a related Bond Premium account with a balnnca of 57.800 . On Januarv 1. 201A. the company redeems the bonds at 106 . The Peter and Paul Company should record a of 5 of the redemption of these bonds. Use the following abbreviabons in the first blank for the gain or loss on the redemption of the bands: for Gain Lfor Loss

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