Problem 14-14 (Algo) Early extinguishment of debt [LO14-5] Three years ago American Insulation Corporation issued 10%,$860,000,8-year bonds for $800,000. American Insulation exercised its call privilege and retired the bonds for $850,000. The corporation uses the straight-line method to determine interest. Required: Prepare the journal entry to record the call of the bonds. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the call of the bonds. Noke: Enter debits before crecits