Tamatha Corporation retires its bonds at 107 on January 1, after the payment of interest.

Tamatha Corporation retires its bonds at 107 on January 1, after the payment of interest. The face value of the bonds is $720,000. The carrying value of the bonds at retirement is $741,600. The entry to record the retirement will include a A. credit of $28,800 to Premium on Bonds Payable. B. debit of $28,800 to Premium on Bonds Payable. C. debit of $21,600 to Premium on Bonds Payable. D. credit of $21,600 to Premium on Bonds Payable