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

IX. The situations presented here are independent of each other. Instructions: For each situation, prepare the appropriate journal entry for the redemption of the bonds. (a) Marlo Corporation retired $200,000 face value, 9% bonds on April 30,N at 101 . The carrying value of the bonds at the redemption date was $186,500. The bonds pay annual interest, and the interest payment due on April 30, N has been made and recorded. (b) Willmore, Inc., retired $150,000 face value, 7.5% bonds on June 30,N at 98 . The carrying value of the bonds at the redemption date was $174,000. The bonds pay annual interest, and the interest payment due on June 30,N has been made and recorded. On January 1, N, Denton Company issued $700,000,15-year, 7\% bonds at 96 . Instructions (a) Prepare the journal entry to record the sale of these bonds on January 1 , N. (b) Suppose the remaining Discount on Bonds Payable was $16,800 on December 31 , N+5. Show the balance sheet presentation on this date. (c) Explain why the bonds could be sold at a price below the face amount