Instructions Hill Corporation issued $3,000,000 of 7% bonds at 98 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 108 plus accrued interest. Required: Prepare the journal entries to record the reacquisition (recall) of Hill's bonds. Chart of Accounts CHART OF ACCOUNTS Hill Corporation General Ledger ASSETS 111 Cash 121 Accounts Receivable 141 Inventory 152 Prepaid Insurance REVENUE 411 Sales Revenue 181 Equipment 198 Accumulated Depreciation LIABILITIES 211 Accounts Payable 231 Salaries Payable 250 Unearned Revenue 255 Bonds Payable 256 Premium on Bonds Payable EXPENSES 500 Cost of Goods Sold 511 Insurance Expense 512 Utilities Expense 521 Salaries Expense 532 Bad Debt Expense 540 Interest Expense 541 Depreciation Expense 559 Miscellaneous Expenses 892 Loss on Bond Redemption 910 Income Tax Expense Prepare the journal entries to record the reacquisition (recall) of Hill's bonds on March 31, 2022. General Journal Instructions 1 2 3 4 5 6 7 8 GENERAL JOURNAL DATE ACCOUNT TITLE PAGE 1 POST. REF. DEBIT CREDIT