Brief Exercise 14-12 Early extinguishment; effective interest [LO14-5) A company retired $70 million of its 10% bonds at 101($70.7 million) before their scheduled maturity. At the time, the bonds had a remaining discount of $3 million. Prepare the journal entry to record the redemption of the bonds. (Enter your answers in millions rounded to 1 decimal place (.e, 5,500,000 should be entered as 5.5). If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list