Check my work 1.00 points Exercise 9-14 Part 2 2. If the market interest rate drops to 5% on December 31. 2016. it will cost $458.290 to retire the bonds. Record the retirement of the bonds on December 31, 2016. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet On January 1, 2015, Splash City issues $410,000 of 6% 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 7% and the bonds neral Jo December 31, 2016 *Enter debits before credits