Osa Corp is redeeming its currently outstanding bond payable as of 12/31/2020 at 102. Osa Corp has $1,000,000 of bonds outstanding. The contractual interest rate is 6% and the market interest rate is currently 5%. Osa originally issues the bonds for $1,150,000. The unamortized premium on bonds is $87,500. The entry Osa records to redeem the bond includes:

Credit to Gain on Redemption for $67,500

Debit to Loss on Redemption for $150,000

Debit to Loss on Redemption for $67,500

Credit to Gain on Redemption for $150,000

None of the listed options