Magic Mountain retires its 8% bonds having a face amount of $119,000 for $121,000 before their scheduled maturity. At the time, the bonds have a carrying value of $110,000. Required: Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the early retirement of the bonds.

Magic Mountain retires its \8 bonds having a face amount of \\( \\$ 119,000 \\) for \\( \\$ 121,000 \\) before their scheduled maturity. At the time, the bonds have a carrying value of \\( \\$ 110,000 \\). Required: Record the early retirement of the bonds. (If no entry is required for a particular transaction/event, select \"No Journal Entry Required In the first account field.)