Jamison Company is preparing its statement of cash flows for the current year. During the year, the company issuances of debt and properly recorded the transactions. These transactions were as follows: Paid cash of $115,000 to retire bonds payable with a face value of $120,000 and a book value $116,000 Paid cash of $48,000 to retire bonds payable with a face value of $45,000 and a book value $46,000. Required: Record, in journal entry form, the entries that Jamison would make for the bond transactions to prepare its statement cash flows