Required information The following information applies to the questions displayed below) On January 1, 2021. White Water Issues $420,000 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 5% and the bonds Issued at $472.716. 2. If the market interest rate increases to 7% on December 31, 2023, it will cost $378,629 to retire the bonds. Record the retirement of the bonds on December 31, 2023. (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