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QUESTION 5 Niebuhr Company issued $400,000 of bonds on January 1, 2021. Instructions a. Prepare the journal entry to record the retirement of the

QUESTION 5 Niebuhr Company issued $400,000 of bonds on January 1, 2021. Instructions a. Prepare the journal entry to record the retirement of the bonds at maturity, assuming the bonds were issued at 100. b. Prepare the journal entry to record the retirement of the bonds before maturity at 97. Assume the balance in Premium on Bonds Payable is $4,000.

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