Early Retirement

A company issued a $20-$year bond on $1/1/24.$ The face value of the bond was $1,000$ but it was issued at $997.$ The bond included a callable feature, allowing the company to buy back the bond early at $102\%.$

On $1/1/30,$ the company exercises the call feature; on this date the carrying value of the bond was $998.$

$6.$ Prepare the journal entry for calling the bond.