apter 14 (with some problems from Chapter 13) - - 0 Saved Helps 17 Problem 14-18 Early extinguishment [LO14-5) The long-term liability section of Eastern Post Corporation's balance sheet as of January 1, 2018, included 12% bonds having a face amount of $48.0 million and a remaining premium of $8.0 million. On January 1, 2018, Eastern Post retired some of the bonds befor their scheduled maturity Jook es Required: Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances bel 1. Eastern Post called half the bonds at the call price of 103 (103% of face amount). 2. Eastern Post repurchased $12.0 million of the bonds on the open market at their market price of $12.5 million. Help Seve & Exit Submit 17 Check my work Problem 14-18 Early extinguishment [LO14-5) The long-term liability section of Eastern Post Corporation's balance sheet as of January 1, 2018 included 12% bonds having a face amount of $48.0 million and a remaining premium of $80 million On January 1, 2018, Eastern Post retired some of the bonds before their scheduled maturity Required: Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances below 1. Eastern Post called half the bonds at the call price of 103 (103% of face amount) 2. Eastern Post repurchased $12.0 million of the bonds on the open market at their market price of $12.5 milion