The long-term liability section of Westin Laboratories balance sheet as of December 31, 2012, included 10% bonds having a face amount of $200 million and a remaining premium of $30 million. On January 1, 2013, Eastern Post retired some of the bonds before their scheduled maturity. Required: Prepare the journal entry by Westin to record the redemption of the bonds under each of the independent circumstances below: 1. Westin called half the bonds at the call price of 102 (102% of face amount). 2. Westin repurchased $50 million of the bonds on the open market at their market price of $52.5 million.