At the end of the 6th year, the bonds were redeemed at 102: - Write the Journal Entry Premium on Bonds Payable Balance: Amortization: $24,924.60 * 6 years = $149,547.60 Account balance: $249,246 - 149,547.60 = $99,698.40 Bonds Payable Balance 4,000,000 Redemption Price 4,000,000 * 102% = $4,080,000.00 Carrying Value 4,000,000 99,698.40 = 4,099,698.40 Gain (Redemption < CV) $19,698.4

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Your journal entry is almost correctHeres the corrected version Journal E... View the full answer