On May 1, 2016, Big Star Corporation issued $510,000 face value, 10 percent bonds at 98.6. The bonds are dated May 1, 2016, and mature 10 years later. The discount is amortized on each interest payment date. The interest is payable semiannually on May 1 and November 1. On May 1, 2018, after paying the semiannual interest, the corporation purchased the outstanding bonds from the bondholders and retired them. The purchase price was 98.9.

Prepare the entry in general journal form to record the repurchase and retirement of the bonds. (Use the Loss on Early Retirement of Bonds account.)

A.

Record retirement of bonds repurchased.?