Two independent situations follow: 1 Oriole Corporation redeemed $137,800 face value, 12% bonds on June 30, 2021, at 105. The bonds' amortized cost at the redemption date was $124.550. The bonds pay annual interest, and the interest payment due on June 30, 2021, has been made and recorded Sheffield Inc. redeemed $159,000 face value, 12.5% bonds on June 30, 2021, at 95. The bonds amortized cost at the redemption date was $160,060. The bonds pay annual interest, and the interest payment due on June 30, 2021, has been made and recorded 2. For each situation above, prepare the appropriate journal entry for the redemption of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) No. Date Account Titles and Explanation Debit Credit 1 June 30, 2021 Bonds Payable 137800 No. Date Account Titles and Explanation Debit Credit . 1 . June 30, 2021 Bonds Payable 137800 UT Loss on Bond Redemption Cash 144690 (To record redemption of bonds.) June 2 30, 2021 Bonds Payable 159000 Gain on Bond Redemption Cash 151050 (To record redemption of bonds.)