The following are two independent situations. 1. 2. Sunland Corporation redeemed $130,000 face value, 15% bonds on June 30, 2022, at 102. The carrying value of the bonds at the redemption date was $117,500. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded. Tastove Inc. redeemed $157,000 face value, 17.00% bonds on June 30, 2022, at 98. The carrying value of the bonds at the redemption date was $159,500. 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.) Account Titles and Explanation Bonds Payable Loss on Bond Redemption Discount on Bonds Payable Cash Bonds Payable Premium on Bonds Payable Cash Gain on Bond Redemption WODOW Debit 130000 15230 157000 2550 Credit XXX 12500 139230 143040 8510

The following are two independent situations. 1. Sunland Corporation redeemed $130,000 face value, 15% bonds on June 30,2022, at 102 . The carrving value of the bonds at the redemption date was $117,500. The bonds pay annual interest, and the interest payment due on June 30,2022 , has been made and recorded. 2. Tastove inc, redeemed $157,000 face value, 17,00\% bonds on June 30,2022 , at 98, The carrying value of the bonds at the redemption date was $159,500. The bonds pay annual interest, and the interest paymerit duc on June 30,2022 , has been made and recorded. For each independent situation above, prepare the approprlate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent monually.) bonds at the redemption date was $159,500. The bonds pay annual interest, and the interest payment due on June 30,2022 , has been made and recorded. or each independent situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit ccount titles are automatically indented when amount is entered. Do not indent manually.)