2 ed ok t nt ences Required information Exercise 9-16A Record the early retirement of bonds issued at a discount (LO9-6) [The following information applies to the questions displayed below.) On January 1, 2021, Splash City Issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 10% and the bonds issued at $457102. Exercise 9-16A Part 2 2. If the market interest rate drops to 7% on December 31, 2022, it will cost $601,452 to retire the bonds. Record the retirement of the bonds on December 31, 2022. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Round your intermediate calculations to the nearest whole dollar amount.) View transaction list Journal entry worksheet < Record the retirement of the bonds.