Bonds Payable has a balance of $928,000 and Discount on Bonds Payable has a balance of $11,136. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption?
a.$11,136 loss
b.$7,424 loss
c.$7,424 gain
d.$11,136 gain
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Home » Business » Bonds Payable has a balance of $928,000 and Discount on Bonds Payable has a balance of $11,136. If the issuing corporation redeems the bonds at 98, what is the amount of gain or loss on redemption? a.$11,136 loss b.$7,424 loss c.$7,424 gain d.