! Required information Exercise 9-17B Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below.] On January 1, Year 1, a company issues $560,000 of 7% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 6% and the bonds issued at $624,721. Exercise 9-17B Part 2 2. If the market interest rate increases to 8% on December 31, Year 6, it will cost $508,449 to retire the bonds. Record the retirement of the bonds on December 31, Year 6. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate and final answers to the nearest whole dollar.) View transaction list Journal entry worksheet < 1 Record the retirement of the bonds Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal >