X learn-us-east-1-prod-fleet02-xythos.content.blackboardcdn.com/5deeb78a2367c/4324716?x-Blackboard Expiration 1651212000000&x-Bl Student Bookmarks United States Hinto... UTF-8"Chapter%2010%20HW%20%28no%20answers%29%2C%201-6-2022.xlsx File Edit Insert Format Help Q Q Calibri fx Cash paid at redemption A 11 BZUG B C D E F G H J K L M N 1 BE10-13 2 3 Prepare journal entries to record the redemption of the bond. 4 5 Overall note you are paying a premium (i.e. redeeming them at 101), but there is currently a discount on the books. Based on this, you know there will be a loss!! 6 7 Account Debit 8 Note payable Credit Face value 9 Loss on redeption: 10 Discount on note 11 Cash See below Remaining discount This is the premium (1.01) times the face amount. 12 13 14 15 Calculation of loss: 16 Cash paid at redemption $0 $0 17 Less: net value of loan 18 Loss $0 19 20 21 This is the premium (1.01) times the face amount Face amount less discount 22 BE10-4 BE10-5 to 7 BE10-12 BE10-13 E10-1 E103