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Redemption of Bonds Issued at a Premium Brighton Unlimited sold bonds at a premium for $ 6 3 0 , 0 0 0 ( premium

Redemption of Bonds Issued at a Premium
Brighton Unlimited sold bonds at a premium for $630,000(premium of $30,000) eight years ago.
a. The corporation redeems $60,000 of this issue at 98. The unamortized premium is $600.
b. The corporation redeems $90,000 of this issue at 102. The unamortized premium is $900.
Prepare journal entries to record the redemption in (a) and (b).
\table[[DATE,ACCOUNT TITLE,,\table[[DOC. POST.],[NO. REF.]],DEBIT,,CREDIT],[a.,Bonds Payable ,,,,,],[,Premium on Bonds Payable,EE,,,,],[,Gain on Bonds Redeemed,,,,,],[,
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