Question Content Area A $298,000 bond was redeemed at 98 when

Question Content Area

A $298,000 bond was redeemed at 98 when the carrying amount of the bond was $290,550. The entry to record the redemption would include a

a. gain on bond redemption of $1,490.

b. gain on bond redemption of $7,450.

c. loss on bond redemption of $7,450.

d. loss on bond redemption of $1,490.

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