AMC Entertainment, Inc. owns and operates movie theaters worldwide. Assume the company issued 3 percent bonds at their $41,600,000 face value and then used all of these cash proceeds to retire bonds with a stated interest rate of 4 percent. At that time, the 4 percent bonds had a carrying value of $40,000,000 Required 1. Prepare the journal entries to record the issuance of the 3 percent bonds and the early retirement of the 4 percent bonds. Assume both sets of bonds were issued at face value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) view general journal view transaction list Journal Entry Worksheet 12 Record the issuance of 3 percent bonds in the amount of $41,600,000. Debit Credit Transaction General Journal *Enter debits before credits record entry done clear entry