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The long-term liability section of Eastern Post Corporations balance sheet as of December 31,2023, included...

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Accounting

The long-term liability section of Eastern Post Corporations balance sheet as of December 31,2023, included 12% bonds having a face amount of $41.6 million and a remaining premium of $6.4 million. On January 1,2024, Eastern Post retired some of the bonds before their scheduled maturity.
Required:
Prepare the journal entry by Eastern Post to record the redemption of the bonds under each of the independent circumstances below:
Eastern Post called half the bonds at the call price of 104(104% of face amount).
Eastern Post repurchased $10.4 million of the bonds on the open market at their market price of $10.9 million.

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