Practice Exercise 5 (Part Level Submission) On January 1, 2012, Ayayai Industries Inc. issued a $1,017,000, 10-year bond. The bond sold at 98, and paid 12% interest each January 1 and July 1 . Ayayai called at 107 and cancelled the bond on January 1, 2017. Assume the company used the straight-line method of amortization (a1) Calculate the gain or loss on redemption. on redemption of bond $ SHOW LIST OF ACCOUNTS Attempts: 0 of 4 used