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Bonds Payable has a balance of $1,076,000 and Discount on Bonds Payable has a balance of $12,912. If the issuing corporation redeems the bonds at

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Bonds Payable has a balance of $1,076,000 and Discount on Bonds Payable has a balance of $12,912. If the issuing corporation redeems the bonds at 98 , what is the amount of gain or loss on redemption? Select the correct answer. $,608loss$12,912gain$12,912loss$8,608gain

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