Redemption of Bonds Issued at Face Value Hugh Forest Products issued $800,000 in bonds at face value 10 years ago and has paid semiannual interest payments through the years. a. Assume the bonds are redeemed at face value. b. Assume that $86,000 of the bonds are redeemed at 104. c. Assume that $86,000 of the bonds are redeemed at 96. Prepare journal entries to record (a), (b), and (c). If an amount box does not require an entry, leave it blank. Page: DOC. POST. NO. REF DATE ACCOUNT TITLE DEBIT CREDIT 1 a. Bonds Payable Cash 800,000 2 4 b. Bonds Payable 86,000 Loss on Bonds Redeemed 6 Cash 8 c. Bonds Payable 86,000 Gain on Bonds Redeemed 10 Cash 10