Several years ago, Cyclop Company issued bonds with a face value of $1,750,000 for $11,395,000. As a result of declining interest rates, the company has decided to call the bonds at a call premium of 4 percent over par. The bonds have a current book value of $1,764,000. (If no entry is required for a transaction/event, selet "No journal entry required" in the first account field.) Required Record the retirement of the bonds, using a premium account. View transaction list Journal entry worksheet Record the retirement of the bonds, using a premium account. Note: Enter debits before credits Transaction General Journal Debit Credit View general journal Record entry Clear entry