Question 6 Your answer is partially correct. Try again. Presented below are two independent situations. 1. Bridgeport plc redeemed 124,000 face value, 12% bonds on June 30, 2017, at 104. The carrying value of the bonds at the redemption date was 119,040. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. 2. Indigo Ltd. redeemed 144,900 face value, 11.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was 146,500. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. Prepare the appropriate journal entry for the redemption of the bonds in each situation. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Date Account Titles and Explanation X 1. June 30 Bonds Payable 124000 Loss on Bond Redemption 9920 x Cash 22320 X 2. June 30 Bonds Payable 144900 Cash 142002 x Gain on Bond Redempti 2898