Darien Inc. redeemed $$45,000$ of its bonds at $102$ on January $1.$ At this date, the unamortized discount was $$6,210.$ Prepare the journal entry on January $1$ for the bond redemption. Assume Darien has a December $31$ year$-$end and all adjusting entries were made. DateAccount NameDebitCreditJan. $1$CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value Adjustment$$Bonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value Adjustment$$Note PayableInterest PayableCommon StockPaid$-$in Capital in Excess of Par$$Common StockPaid$-$in Capital$$Stock WarrantsRetained Earnings$$Prior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or Loss$$IncomeUnrealized Gain or Loss$$OCIAnswer $1$ CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value Adjustment$$Bonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value Adjustment$$Note PayableInterest PayableCommon StockPaid$-$in Capital in Excess of Par$$Common StockPaid$-$in Capital$$Stock WarrantsRetained Earnings$$Prior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or Loss$$IncomeUnrealized Gain or Loss$$OCIAnswer $2$ CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value Adjustment$$Bonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value Adjustment$$Note PayableInterest PayableCommon StockPaid$-$in Capital in Excess of Par$$Common StockPaid$-$in Capital$$Stock WarrantsRetained Earnings$$Prior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or Loss$$IncomeUnrealized Gain or Loss$$OCIAnswer $3$ CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value Adjustment$$Bonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value Adjustment$$Note PayableInterest PayableCommon StockPaid$-$in Capital in Excess of Par$$Common StockPaid$-$in Capital$$Stock WarrantsRetained Earnings$$Prior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or Loss$$IncomeUnrealized Gain or Loss$$OCIAnswer $4$ To record bond redemption. Feedback