On January 1, 2020, Sheffield Corporation redeemed $550,000 of bonds at 98. At the time of redemption, the unamortized premium was $16,500. Prepare the corporation's journal entry to record the reacquisition of the bonds. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to decimal places, e.g. 38,548.) Account Titles and Explanation Debit Credit