Paying off marketable debt early- Example * Company A issued $ 3,000,000 of bonds paying 4% on . The bonds matures in 5 years. January 1, 2016 Interest is paid semi annually (June 30 and December 31) The market rate of interest was 5% at the time of ssuance . On December 31, 2017 Company A repurchased the bonds in the market place when the market interest rate was 3.5% Prepare the journal entries for 2016 and 2017