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A company issues $50,000 of 9%10-year bonds dated January 1, 2018 , that mature on...

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Accounting

A company issues $50,000 of 9%10-year bonds dated January 1, 2018 , that mature on December 31, 2027, and pay interest semiannually of \$2.250.0n December 31, 2022, when the bond premium is $2,500, the bonds are called for \$55.000. The journal entry to record this transaction would record (debit/credit) to Loss on Bond Retirement of $2,500

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