Tyrell company issued cable bonds with a par value of $26,000. The call option requires Tyrrel to pay call premium of $500 plus par to bondholders to retire the bonds on July 1 Tyrrel exercises the call option the call option is exercised after the semi annual interest is paid the day before on June 30 Record the entry to retire the bonds under each separate situation
Number one the bonds of a caring value of $21,000
Number two the bonds have a caring value of $27,000
