Instructions

General Journal

Hill Corporation issued $$2,700,000$ of $7\%$ bonds at $97$ on January $2,2019$ Interest is paid semiannually on June $30$ and December $31.$ The bonds had a $10-$year life from the date of issue, and the company uses the straight$-$line method of amortization. On March $31,2022,$ Hill recalls the bonds at the call price of $110$ plus accrued interest.

Required:

Prepare the journal entries to record the reacquisition $($recall$)$ of Hill's bonds.