Jen Corporation retires its P 500,000 face value bonds at 105 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is P 518,725. The entry to record the redemption will include a  a. credit of P 18,725 to Loss on Bond Redemption b. debit of P 18,725 to Premium on Bonds Payable c. credit of P 6,725 to Gain on Bond Redemption d. debit of P 25,000 to Premium on Bonds Payable

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