Whataburger Franchise wants to improve its Debt to Equity ratio, so it decides to retire a $24 million bond issue. At the time of retirement, the market value of the bonds was $33 million and the carrying value of the bonds is $32 million. Which of the following would be included in the journal entry to record the retirement of the bonds? Multiple Choice A debit of $1 million to a loss account. A credit of $1 million to a gain account. No gain or loss on retirement. A credit to cash for $32 million. _xlsx ^ Show