Coronado Industries retires its bonds at 105 on January 1, following the payment of annual interest. The face value of the bonds is $560000. The carrying value of the bonds at the redemption date is $579600. The entry to record the redemption will include a O debit of $28000 to Premium on Bonds Payable O debit of $19600 to Premium on Bonds Payable. O credit of $19600 to Loss on Bond Redemption. O credit of $8400 to Gain on Bond Redemption.
