Required information Skip to question [The following information applies to the questions displayed below.] On January 1, 2024, Splash City issues $410,000 of 6% 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 7% and the bonds issued at $366,222. 2. If the market interest rate drops to 5% on December 31, 2025, it will cost $458,290 to retire the bonds. Record the retirement of the bonds on December 31, 2025. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your final answers to the nearest whole dollar.) PrevQuestion 6 of 6 Total6 of 6Visit question mapThis is the last question in the assignment. To submit, use Alt + S. To access other questions, proceed to the question map button.Next