H and B Services has a balance in Bonds Payable of $160,000 and a Premium on Bonds Payable of $5300 (credit). The company decided to retire the bonds early paying $149,700 for the bonds. What is the journal entry to record the retirement of the bonds? A) Cash 149,700 Premium on Bonds Payable 5150 Loss on Retirement of Bonds 5150 Payable Bonds Payable 160,000 B) Bonds Payable 160,000 Premium on Bonds Payable 5300 Gain on Retirement of Bonds 15,600 Payable Cash 149,700 C) Bonds Payable 160,000 Gain on Retirement of Bonds 5150 Payable Premium on Bonds Payable 5150 Cash 149,700 Cash 149,700 D) Loss on Retirement of Bonds 15,600 Payable Premium on Bonds Payable 5300 Bonds Payable 160,000