The following are two independent situations. 1. 2. Cullumber Corporation redeemed $140,000 face value. 11% bonds on June 30, 2022, at 102. The carrying value of the bonds at the redemption date was $127,500. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded. Tastove Inc. redeemed $143,000 face value, 12.50% bonds on June 30, 2022, at 96. The carrying value of the bonds at the redemption date was $144,150. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded. For each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Bonds Payable Loss on Bond Redemption Discount on Bonds Payable Debit Credit 140000 125000 Options For each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation 1. Bonds Payable Loss on Bond Redemption Discount on Bonds Payable Cash 2. Bonds Payable Premium on Boods Payable Gain on Bond Redemption, Cash Textbook and Media Debit 140000 143000 1150 Credit 12500 142000 137280