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The long-term liability section of Eastern Post Corporation's balance sheet as of December 31,2023 , included 11% bonds having a face amount of $40.4 million

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The long-term liability section of Eastern Post Corporation's balance sheet as of December 31,2023 , included 11% bonds having a face amount of $40.4 million and a remaining premlum of $6.1 million. On January 1,2024 , Eastern Post retired some of the bonds before their scheduled maturity. Required: Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances below: 1. Eastern Post called half the bonds at the call price of 103 (103\% of face amount). 2. Eastern Post repurchased $10.1 milion of the bonds on the open market at their market price of $10.6 railion. Complete this question by entering your answers in the tabs below. Record the entry for redemption of the bonds assuming Eastern Post called half the bonds at the call price of 103 ( 103% of face amount). Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account neid, Enter your answers in whole dollars. Journal entry worksheet Record the redemption of the bonds

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