Bonds Payable has a balance of $1,000,000 and Discount on

Last updated: 7/19/2022

Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $12,500. If the issuing corporation redeems the bonds at 99, what is the amount of gain or loss on redemption? a. $2,500 gain b. $22,500 gain c. $22,500 loss d. $2,500 loss