Early Retirement of Bonds Eaton Company issued $600,000 of eight percent, 20 -year bonds at 106 on January 1,2016 . Interest is payable semiannually on July 1 and January 1 . Through January 1,2022 , Eaton amortize $5,000 of the bond premium. On January 1,2022, Eaton retired the bonds at 103 (after making the interest payment on that date). Prepare the journal entry to record the bond retirement on January 1, 2022