Sandhill Company issued $690,000,12%,10-year bonds on December 31,2021 , for $620,000. Interest is payable annually on December 31. Sandhill Company uses the straight-line method to amortize bond premium or discount. Prepare the journal entry to record the redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)