Exercise 10-8A Journal entries for callable bonds LO 10-3 Nivan Co. issued $258,000 of 5 percent, 10-year, callable bonds on January 1, 2016, at their face value. The call premium was 2 percent (bonds are callable at 102). Interest was payable annually on December 31. The bonds were called on December 31, 2020. Required Prepare the journal entries to record the bond issue on January 1, 2016, and the bond redemption on December 31, 2020. Entries for accrual and payment of interest are not required. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.) Journal entry worksheet Record the bond issue on January 1, 2016 Note: Enter debits before credits Date Debit Credit January 01, 2016 Exercise 10-8A Journal entries for callable bonds LO 10-3 Nivan Co. issued $258,000 of 5 percent, 10-year, callable bonds on January 1, 2016, at their face value. The call premium was 2 percent (bonds are callable at 102). Interest was payable annually on December 31. The bonds were called on December 31, 2020. Required Prepare the journal entries to record the bond issue on January 1, 2016, and the bond redemption on December 31, 2020 Entries for accrual and payment of interest are not required. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field.) Journal entry worksheet 2 Record the bond redemption on December 31, 2020 Note: Enter debits before credits December 31 2020