9-8

Exercise 9.19 (Algo) Record the early retirement of bonds issued at a discount (LO9-6) [The following information applies to the questions displayed below] On January 1, 2024, Splash City issues $340,000 of 6% bonds, due in 20 years, with interest payable semiannually ori June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $303,696. xercise 9.19 (Algo) Part 2 If the market interest rate drops to 6% on December 31,2025 , it will cost $340,000 to retire the bonds. Record the retirement of the onds on December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the irst account field. Round your final answers to the nearest whole dollar.) Journal entry worksheet Record the retirement of the bonds. Note: Enter debits before credits