Hulsey Corporation retires its $600,000 face value bonds at 105 on January 1, following the payment of annual interest. The carrying value of the bonds at the redemption date is $622,470. The entry to record the redemption will include a

A. credit of $22,470 to Loss on Bond Redemption.

B. debit of $7,530 to Premium on Bonds Payable.

C. credit of $7,530 to Gain on Bond Redemption.

D. debit of $22,470 to Premium on Bonds Payable.