Sunland Corporation retires its $440000 face value bonds at 102 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $423500. Sunland's entry to record the redemption will include a debit of $8800 to Premium on Bonds Payable. credit of $16500 to Discount on Bonds Payable. credit of $16500 to Loss on Bond Redemption. O debit of $25300 to Gain on Bond Redemption.