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Nivan Company issued $495,000 of 6 percent, 10-year, callable bonds on January 1, Year 1 , at their face value. The call premium was 1 percent (bonds are callable at 101). Interest was payable annually on December 31 . The bonds were called on December 31 , Year 5 . Required Prepare the journal entries to record the bond issue on January 1, Year 1, and the bond redemption on December 31 , Year 5 . Entries for accrual and payment of interest are not required. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2. Nivan Company issued $495,000 of 6 percent, 10 -year, callable bonds on January 1, Year 1 , at their face value. The call premium was 1 percent (bonds are callable at 101). Interest was payable annually on December 31. The bonds were called on December 31 , Year 5. Required Prepare the journal entries to record the bond issue on January 1, Year 1, and the bond redemption on December 31 , Year 5 . Entries for accrual and payment of interest are not required. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the bond redemption on December 31 , Year 5. Noter Enter debits before credits

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