Marion Company redeems a $100,000 bond at $97,000. The unamortized premium is $2,000. the journal entry to record this transaction is:

Marion Company redeems a $100,000 bond at 97. The unamortized premium is $2,000. The journal entry to record this transaction is: bonds payable 100,000 premium on bonds payable 2,000 gain on redemption 5,000 cash 97,000 bonds payable 100,000 gain on redemption 1,000 premium on bonds payable 2,000 cash 97,000 bonds payable 97,000 loss on redemption 5,000 premium on bonds payable 2,000 cash 100,000 bonds payable 102,000 o gain on redemption 2,000 cash 100,000