Answer and Explanation:
The journal entries are given below:
On Apr. 30
Bonds payable $124,000
Loss on redemption of bonds( bal fig) $18,228
Discount on Bonds payable($124,000 - $111,972) $12,028
Cash ($124,000 × 1.05) 1,30,200
(Being redemption of bonds at 105 is recorded)
On Jun. 30
Bonds payable $162,000
Premium on Bonds payable($174,960 - $162,000) $12,960
Gain on redemption of bonds ( bal fig) $14,580
Cash($162,000 × .99) $160,380
(Being redemption of bonds at 98 is recorded)