Check my work Required Information [The following information applies to the questions displayed below) On January 1, 2021, White Water issues $410,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market Interest rate on the issue date is 6% and the bonds issued at $440,499. 2. If the market Interest rate increases to 8% on December 31, 2023, it will cost $388,346 to retire the bonds. Record the retirement of the bonds on December 31, 2023. (no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Round your Intermediate and final answers to the nearest whole dollar)