Several years ago, Walters 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. Record the retirement of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet A Record the retirement of the bonds. Note: Enter debits before credits. Transaction 1 Bonds payable Loss on bond call Cash General Journal Debit 1,000,000 Credit 1,050,000 View general journal Record entry Clear entry >