The situations presented here are independent of each other. For each situation, prepare the appropriate journal entry for the redemption of the bonds.

a) Pelfer Corporation redeemed $189,800 face value, 11% bonds on April 30, 2014, at 103. The carrying value of the bonds at the redemption date was $171,498. The bonds pay annual interest, and the interest payment due on April 30, 2014, has been made and recorded.

b) Youngman, Inc., redeemed $240,500 face value, 13.7% bonds on June 30, 2014, at 98. The carrying value of the bonds at the redemption date was $260,306. The bonds pay annual interest, and the interest payment due on June 30, 2014, has been made and recorded.