Nivan Company issued $439,000 of 6 percent, 10-year, callable bonds on January 1 , Year 1 , at their face value. The call premium was 3 percent (bonds are callable at 103). Interest was payable annually on December 31. The bonds were called on December 31 , Year 5 . Required Prepare the journal 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