Exercise 9.20 (Static) Part 2\ If the market interest rate increases to

8%

on December 31,2026 , it will cost

$568,311

to retire the bonds. Record the retirement of\ the bonds on December 31, 2026. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in\ the first account field. Round your final answers to the nearest whole dollar.)

Required information Exercise 9-20 (Static) Record the early retirement of bonds issued at a premium (LO9-6) [The following information applies to the questions displayed below.] On January 1,2024 , White Water issues $600,000 of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 6% and the bonds issued at $644,632. Exercise 9.20 (Static) Part 2 2. If the market interest rate increases to 8% on December 31,2026 , it will cost $568,311 to retire the bonds. Record the retirement of he bonds on December 31, 2026. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in he first account field. Round your final answers to the nearest whole dollar.)