eBook Show Me How Print item Redemption of Bands Payable An $800,000 bond issue on which there is an unamortized premium of $57,000 is redeemed for $785,000, Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable Premium on Bonds Payable Gain on Redemption of bonds Cash The gain or loss is the balancing amount needed to complete the entry and is the difference between the carrying amount of the bonds and the redemption price, A corporation wally restera is bonds at a price different from that of the carrying amount of the bandi