A company issues $80,000 of 10-year bonds for $86,000. Immediately after the thirteenth semiannual interest payment, the

Question:

A company issues $80,000 of 10-year bonds for $86,000. Immediately after the thirteenth semiannual interest payment, the company redeems the bonds for $83,700. The company uses the straightline method of amortization.
Required
Prepare the journal entry to record the bond redemption.