On July $1,$ Aloha Company exercises a call optlon that requlres Aloha to pay $$224,400$ for its outstanding bonds that have a carrying value of $$227,800$ and a par value of $$220,000.$ The company exercises the call option after the semlannual interest is pald the day before on June $30.$

Record the entry to retire the bonds.

Journal entry worksheet

$1$

Record the retirement of bonds before maturity.

Note: Enter ceblts ciere credits

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$July $01,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$