Module 7 (Chapter 14) Homework Saved Four years ago American Insulation Corporation issued 10 percent, $840,000, 10-year bonds for $790,000. American Insulation exercised its call privilege and retired the bonds for $830,000. The corporation uses the straight-line method to determine interest Required: Prepare the journal entry to record the call of the bonds. (If no entry is required for a transaction/event, select "No journal entry requlred" In the first account field.) points eBook View transaction list Ask Print Journal entry worksheet References Record the call of the bonds. Note: Enter debits before credits Event General Journal Debit Credit 1 Record entry Clear entry View general Journal Graw