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E10-12 Presented below are two independent situations. Prepare 1. Longbine ple redeemed 130,000 face value,...

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E10-12 Presented below are two independent situations. Prepare 1. Longbine ple redeemed 130,000 face value, 12% bonds on June 30, 2017, at 102. The redempt carrying value of the bonds at the redemption date was 117,500. The bonds pay annual (LO 6) interest, and the interest payment due on June 30, 2017, has been made and recorded. 2. Tastove Ltd. redeemed 150,000 face value, 12.5% bonds on June 30, 2017, at 98. The carrying value of the bonds at the redemption date was 151,000. The bonds pay annual interest, and the interest payment due on June 30, 2017, has been made and recorded. Instructions Prepare the appropriate journal entry for the redemption of the bonds in each situation

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