answer please

Because interest rates have fallen, a company retires bonds which had been issued at their face value of $290,000. The company bought the bonds back at 94.75. The journal entry to record this retirement includes a debit of: Multiple Choice $290,000 to Bonds Payable, a credit of $15,225 to Interest Expense, and a credit of $274,775 to Cash. $274,775 to Bonds Payable and a credit of $274,775 to Cash. $274,775 to Bonds Payable, a debit to Gain on Bond Retirement of $15,225 and a credit of $290,000 to Cash. $290,000 to Bonds Payable, a credit of $15,225 to Gain on Bond Retirement, and a credit of $274,775 to Cash