Buffalo Ltd. sells $ 6.20 million of 9% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The bonds due date is June 1, 2024. The bonds yield 8%. On October 1, 2021, Buffalo buys back $ 1.24 million worth of bonds for $ 2.11million, including accrued interest.

10/1/21 Bonds Payable 1240000 Loss on Redemption of Bonds 870000 Cash 2110000 (To record reacquisition of bonds)