The situations presented here are independent.

Instructions For each situation prepare the appropriate journal entry for the redemption of the bonds.

(a) Price Corporation retired $130,000 face value, 12% bonds on June 30, 2001, at 102.

The carrying value of the bonds at the redemption date was $122,500. The bonds pay semiannual interest, and the interest payment due on June 30, 2001, has been made and recorded.

Coopers, Inc., retired $180,000 face value, 12.5% bonds on June 30, 2001, at 98. The carrying value of the bonds at the redemption date was $183,000. The bonds pay semiannual interest, and the interest payment due on June 30, 2001, has been made and recorded.

(b)