Redemption of bonds payable A $2,000,000 bond issue on which there is an unamortized premium of $87,000 is redeemed for $1,960,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. blankAccountDebitCredit blank Bonds Payable Bonds Payable 2,000,000 Bonds Payable Premium on Bonds Payable Premium on Bonds Payable 87,000 Premium on Bonds Payable Gain on Redemption of Bonds Gain on Redemption of Bonds 1,960,000 Gain on Redemption