On January $1,2017,$ Judd Company sold $$1,000,000$ in long$-$term bonds. The

bonds will mature in $10$ years and have a stated interest rate of $11\%$ and a yield

rate of $8\%.$ The bonds pay interest annually on January $1$ of each year. The bonds

are to be accounted for under the effective$-$interest method. On December $31,2024,$ we redeemed $$750,000$ of the bonds described in transaction $(13)$ at $102,$ after all other entries have been recorded. For the journal entry Debit Bonds Payable $750,000,$ and Debit Premium in Bonds Payable $\_?\_\_,$ Credit Gain on redemption$\_\_?\_\_\_,$ Credit Cash $765,000.$ I need help figuring out the premium on bonds payable and the gain on redemption.