Hill Corporation issued $2, 100,000 of 8% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 31. The bono had a 10-year life from the date of issue, and the company uses the straight-line method of amortization. On March 31, 2022, Hill recalls the bon at the call price of 107 plus accrued interest.
Required:
Prepare the journal entries to record the reacquisition (recall) of Hill's bonds.
The journal entries will have 8 lines.