PART 2: On January 1, 2020 (three years prior to maturity) after all interest payments and amortization adjustments, Hart Company redeemed at 102 its 15-year bonds with a face value of $500,000. The bonds were originally issued on January 1, 2008 at 98 with a maturity date of January 1, 2023. The bond issue costs relating to the original bond issue were $20,000. As an incentive, Hart paid the bondholders $25,000 to induce them to redeem their bonds. Hart uses the straight-line method to amortize bond discounts, premiums, and issue costs. Prepare the journal entry to record the bond retirement