(TCO D) Prepare journal entries to record the followingretirement. (Show computa

(TCO D) Prepare journal entries to record the followingretirement. (Show computations and round to the nearest dollar).The December 31 2010 balance sheet of Wolfe Co. included thefollowing items:7.5% bonds payable due December 31 2018 $1200000Unamortized discount on bonds payable 48000The bonds were issued on December 31 2008 at 95 with interestpayable on June 30 and December 31. (Use straight-lineamortization)On April 1 2011 Wolfe retired $240000 of these bonds at 101 plusaccrued interest.