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 $460,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year. The market interest rate on the issue date is 9% and the bonds issued at $422,536, 2. If the market interest rate drops to 6% on December 31, 2022, it will cost $542.233 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 > M Record the retirement of the bonds Debit Notenter debits before credit Date General Journal December 31 2022 Bonds Payable Ross Credit 460.000 542233 Discount on Bonds Payable