On January 1, 2013, Jacob issues $800,000 of 9%, 13-year bonds at a price of 96½. Six years later, on January 1, 2019, Jacob retires 20% of these bonds by buying them on the open market at 105½. All semiannual interest is accounted for and paid through December 31, 2018, the day before the purchase. The straight-line method is used to amortize any bond discount or premium. What is the journal entry to record the retirement of 20% of the bonds on January 1, 2019?
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