Which of the following statements is true?

a. To determine the amount of gain or loss on redemption of bonds, compare the redemption price with the carrying value of the bonds.
b. To determine the amount of gain or loss on redemption of bonds, compare the redemption price with the face value of the bonds.
c. To determine the amount of gain or loss on redemption of bonds, compare the balance in the Premium on Bonds Payable or the balance in the Discount on Bonds Payable account with the carrying value of the bonds.
d. To determine the amount of gain or loss on redemption of bonds, compare the balance in the Premium on Bonds Payable or the balance in the Discount on Bonds Payable account with the face value of the bonds.
e. All of the above statements are true.

a

Business

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