E$15\mathrm{.}12($LO $4)$ AP Two independent situations follow:

Longbine Corporation redeemed $$130,000$ face value, $12\%$ bonds on June $30,2024,$ at $102.$ The bonds' carrying amount at the

redemption date was $$117,500.$ The bonds pay annual interest, and the interest payment due on June $30,2024,$ has been made and

recorded.

Tastove Inc. redeemed $$150,000$ face value, $12\mathrm{.}5\%$ bonds on June $30,2024,$ at $98.$ The bonds' carrying amount at the redemption

date was $$151,000.$ The bonds pay annual interest, and the interest payment due on June $30,2024,$ has been made and recorded.

Instructions

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