eBook Show Me How Print Item Redemption of Bonds Payable A $980,000 bond issue on which there is an unamortized premium of $85,000 is redeemed for $781,000. 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 Feedback Check My Work The gain or loss is the balancing amount needed to complete the entry and is the difference between the carrying amo A corporation usually redeems its bonds at a price different from that of the carrying amount of the bonds. Learning Objective 2