The following section is taken from Gordon Corp. 's balance sheet at December 31, 2020. Interest is payable annually on January 1 . The bonds are callable on any interest date. Assume that on January 1, 2021, after paying interest, Gordon calls bonds having a face value of $1,600,000. The call price is 98 . Record the redemption of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)