The December 31, 2017, balance sheet of Ming Inc. included 12% bonds with a face amount of $100 million. The bonds were issued in 2005 and had a remaining discount of $3,400,000 at December 31, 2017. On January 1, 2018, Ming called the bonds at a price of 102. Required: Prepare the journal entry by Ming to record the retirement of the bonds on January 1, 2018. Solution Dear Student Thank you for using Chegg Please find below the answer Statementshowing Computations Paticulars Dr Cr Bonds Payable Dr 100,000,000.00 Loss on retirement of bonds Dr 5,400,000.00 To Cash 102,000,000.00 To Discount of bonds Payable 3,400,000.00.