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3 year 8% Bonds at $100,000 issued on January 1,2016, are recalled at 105 on December 31,2017 Expenses of recall are $2,000. Market interest on

3 year 8% Bonds at $100,000 issued on January 1,2016, are recalled at 105 on

December 31,2017 Expenses of recall are $2,000. Market interest on issue date

was 8%. Prepare the journal entry as of December 31, 2017, assuming a $1,817

balance in the discount on bonds payable account.

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