Required Information [The following Information applies to the questions displayed below.] On January 1, 2021, Splash City Issues $490,000 of 8% bonds, due in 15 years, with Interest payable semiannually on June 30 and December 31 each year. The market Interest rate on the issue date is 9% and the bonds issued at $450,092. 2. If the market Interest rate drops to 6% on December 31, 2022, it will cost $577,597 to retire the bonds. Record the retirement of the bonds on December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field. Round your Intermediate calculations to the nearest whole dollar amount.) View transaction list Journal entry worksheet > 1 Record the retirement of the bonds. Note: Enter debits before credits. Date December 31, 2022 General Journal Debit Credit Record entry Clear entry View general journal >