The situations presented below are independent. 

Required

For each situation prepare the appropriate journal entry for the redemption of the debentures.

(a) Whitewater Rafting Ltd redeemed $130 000 face value, 12% debentures on 30 June 2016 at 102. The carrying amount of the debentures at the redemption date was $130 000. The debentures pay half-yearly interest, and the interest payment due on 30 June 2016 has been made and recorded.

(b) Coopers Ltd redeemed $180 000 face value, 12.5% debentures on 30 June 2017 at 98. The carrying amount of the debentures at the redemption date was $180 000. The debentures pay half-yearly interest, and the interest payment due on 30 June 2017 has been made and recorded.