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The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.25% bonds having a face amount of $90 million. The bonds

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The balance sheet of Indian River Electronics Corporation as of December 31, 2020, included 12.25% bonds having a face amount of $90 million. The bonds had been issued in 2013 and had a remaining discount of $3 million at December 31, 2020. On January 1, 2021 Indian River Electronics called the bonds before their scheduled maturity at the call price of 102 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 Journal entry worksheet Record the redemption of the bonds. Note: Enter debits before credits General Journal Debit Credit Date January 01 2021 Record entry Clear entry View general Journal

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