HO TOT 9 DOLOTOPPID LOLIO 4ODLIDT OPP On January 1, 2018, White Water issues $460,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $502,302. 2. If the market interest rate increases to 9% on December 31, 2020, it will cost $426,660 to retire the bonds. Record the retirement of the bonds on December 31, 2020. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the retirement of the bonds Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2020 Record entry Clear entry View general journal