The balance sheet of Indian River Electronics Corporation as of December 31, 2015, included 12.75% bonds having a face amount of $90.2 million. The bonds had been issued in 2008 and had a remaining discount of $3.2 million at December 31, 2015. On January 1, 2016, Indian River Electronics called the bonds before their scheduled maturity at the call price of 101. Required: Prepare the journal entry by Indian River Electronics to record the redemption of the bonds at January 1, 2016. (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.)