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QS 10.13 (Algo) Bond retirement by call option LO P4 On July 1, Aloha Company exercises a call option that requires Aloha to pay $285,600

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QS 10.13 (Algo) Bond retirement by call option LO P4 On July 1, Aloha Company exercises a call option that requires Aloha to pay $285,600 for its outstanding bonds that have a carrying value of $287,600 and a par value of $280,000. The company exercises the call option after the semiannual interest is paid the day before on June 30. Record the entry to retire the bonds

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