On January 1,2024 , Splash City issues $440,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 7% and the bonds issued at $393,019. If the market interest rate drops to 5% on December 31,2025 , it will cost $491,824 to retire the bonds. Record the retirement o he bonds on December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required' n the first account field. Round your final answers to the nearest whole dollar.) Journal entry worksheet Note: Enter debits before credits