On January $1,2024,$ Splash City issues $$340,000$ of $6\%$ bonds, due in $20$ years, with interest payable semiannually on June $30$ and December $31$ each year. The market interest rate on the issue date is $7\%$ and the bonds issued at $$303,696.$ If the market interest rate drops to $6\%$ on December $31,2025,$ it will cost $$340,000$ to retire the bonds. Record the retirement of the bonds on December $31,2025.($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.$)$