How to calculate the percentage of net income the partners withdrew​

B. credit of $28,750 to Discount on Bonds Payable

Explanation:

From the question, we are informed that the face value of the bond is $500,000 while the bond's carrying value is $471,250. The bonds were issued at a discount since the carrying value is less than the face value of the bond.

At the time that the bonds was retired, the unarmotized discount on bond payable will be:

= $500,000 - $471,250

= $28,750

Therefore, the entry to record the redemption will include a credit of $28,750 to Discount on Bonds Payable.