Question: Hello, I am having trouble solving an accouting related problem. I am having trouble finding the value for gain on redemption of bonds, and I've

Hello, I am having trouble solving an accouting related problem. I am having trouble finding the value for "gain on redemption of bonds", and I've attached the problem below. Thank you for your help!

Redemption of Bonds Payable A $500,000 bond issue on which there is an unamortized premium of $67,000 is redeemed for $490,000. Journalize the redemption of the bonds. If an amount box does not require an entry, leave it blank. Bonds Payable 500,000 Premium on Bonds Payable 67,000 Gain on Redemption of Bonds Cash 490,000

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