King Company issued bonds with a face amount of $1,600,000 in 2015. As of January 1, 2020, the balance in Discount on Bonds Payable is $4,800. At that time, King redeemed the bonds at 102. Assuming that no interest is payable, make the entry to record the redemption. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 On January 1, 2019, Moon Enterprises sold 8%, 20-year bonds with a face amount of $1.000.000 for $950,000 Interest is payable annually on January 1 Calculate the carrying value of the bond at December 31, 2019 and 2020. December 31, 2019 $ December 31, 2020 $