On October 15,2013,Rural Sales Has a Bond with Balances as Shown

question 22

Essay

On October 15,2013,Rural Sales has a bond with balances as shown below. Rural Sales retires the bonds for $82,000.Please provide the journal entry to retire the bonds.
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Definitions:

Casting

A process in manufacturing where a liquid material is poured into a mold which contains a hollow cavity of the desired shape and then allowed to solidify.

Assembly

The process of putting together various components or materials to create a finished product.

Predetermined Overhead Rates

An estimated rate used to allocate manufacturing overhead costs to individual products or job orders based on a chosen activity base.

Machine-Hours

A measure of production time, reflecting the total hours machines are operated in the manufacturing process.