Question: A $ 3 0 0 , 0 0 0 bond was redeemed at 1 0 4 when the carrying amount of the bond was $

A $300,000 bond was redeemed at 104 when the carrying amount of the bond was $316,000. The entry to journalize the redemption would include a
a. gain on bond redemption of $3,000
b. loss on bond redemption of $3,000
c. loss on bond redemption of $4,000
d. gain on bond redemption of $4,000
A $300,000 bond was redeemed at 104 when the carrying amount

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