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Redemption of Bonds Payable A $1,000,000 bond issue on which there is an unamortized premium of $74,000 is redeemed for $792,000. Journalize the redemption of

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Redemption of Bonds Payable A $1,000,000 bond issue on which there is an unamortized premium of $74,000 is redeemed for $792,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable 1,000,000 Gain on Redemption of Bonds 134,000 Interest Payable 74,000 Cash 792,000

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