Missouri Wheels ( MW ) $9,000,000 of fourteen - year , 3.5 bonds at par on January 1,2020. Interest is payable on June 30 and December 31 each year . The bonds can be called at any time at 103 plus accrued interest . On April 1 2021. MW bought back $3,500,000 of bonds on the open market for $2,600,000 including accured interest and retired them.

Required Prepare journal entries to record : The market purchase of the bonds on April 1 2021

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