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Question
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 98.5, what is the amount of gain or loss on redemption?
a. $500 loss
b. $15,500 loss
c. $15,500 gain
d. $500 gain
Answer
This answer is hidden. It contains 1 characters.
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