A company retired

$70

million of its

10%

bonds at 102 (

$71.4

million) before their scheduled maturity. At the time, the bonds had a remaining discount of

$2

million.\ Prepare the journal entry to record the redemption of the bonds.\ Note: Enter your answers in millions rounded to 1 decimal ploce

A company retired $70 million of its 10% bonds at 102 ( $71.4 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $2 million. Prepare the journal entry to record the redemption of the bonds. Note: Enter your answers in millions rounded to 1 decimal place (i.e., 5,500.000