The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.5% bonds having a face amount of $91.8 million. The bonds had been issued in 2013 and had a remaining discount of $4.8 million at December 31, 2020. On January 1, 2021, Indian River Electronics called the bonds before their scheduled maturity at the call price of 105. Required: Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2021. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list View journal entry worksheet General Journal No Date 1 January 01, 2021 Bonds payable Loss on early extinguishment Discount on bonds payable Cash Debit Credit 91,800,000 4,800,000 90,000,000