Several years ago, Tamika Company issued bonds with a face value of $1,000,000 at par. As a result of declining interest rates, the company has decided to call the bond at a call premium of 5 percent over par. Required: Record the retirement of the bonds. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Record the retirement of the bonds. Note: Enter debits before credits