farmland corporation issues $400,000 of 10-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $388,000 the company redeemed the bonds at 99. Prepare the entry to record the redemption of the bonds.

Farmland Corporation issued $400,000 of 10 -year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $388,000, the company redeemed the bonds at 99 . Prepare the entry to record the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)