Several years ago, Nicole Company issued bonds with a face value of $1,090,000 for $990,000. As a result of declining interest rates, the company has decided to call the bond at a call premium of 4 percent over par. The bonds have a current book value of $1,067,000. Record the retirement of the bonds, using a discount account. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete but not entirely correct. No Transaction General Journal Debit Credit 1 1 Bonds payable Loss on bond call Bond discount Cash 1,090,000 -23,000 -43,600 X 1,133,600