Larkspur, Inc., redeemed $240,000 face value, 13.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $259,765. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Larkspur, Inc., redeemed $240,000 face value, 13.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was $259,765. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. indent manually.) Date Account Titles and Explanation Debit Credit Jun. 30 TBonds Payable 240000 1 Loss on Bond Redemption -245 Discount on Bonds Payable -19765 Cash 235200