Nivan Company issued $386,000 of 8 percent, 10-year, callable bonds on January 1, Year 1 , at their face value. The call premium was 5 percent (bonds are callable at 105). Interest was payable annually on December 31 . The bonds were called on December 31 , Year 5. Required Prepare the joumal entries to record the bond issue on January 1, Year 1 , and the bond redemption on December 31 , Year 5 . Entries for accrual and payment of interest are not required. (If no entry is required for a transaction/event, select "No journal entry required" In the first account field.) Journal entry worksheet Note: Enter debits before credits