Assume that on July $1,2024,$ Headland Co$.$ retires half of the bonds at a cost of $$1,126,600$ plus accrued interest. Prepare the

journal entry to record this retirement. $($Round answers to $0$ decimal places, e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent

manually.$)$

Date

Account Titles and Explanation

Debit

Credit

July $1,$

$2024$

Interest Expense

Premium on Bonds Payable

${|}_{{?}_{?}}1$

$($To record interest$)$

July $1,$

$2024$

Loss on Extinguishment of Bonds

$[$