Kant Corporation retires its $500,000 face value bonds at 102 on January 1 , following the payment of interest. The carrying value of the bonds at the redemption date is $481,250. The entry to record the redemption will include a credit of $18,750 to Loss on Bond Redemption. credit of $18,750 to Discount on Bonds Payable. debit of $28,750 to Gain on Bond Redemption. debit of $10,000 to Premium on Bonds Payable