The long-term liability section of Twin Digital Corporation's balance sheet as of December 31, 2020, included 12% bonds having a face amount of $30 million and a remaining discount of $1 million. Disclosure notes indicate the bonds were issued to yield 14%. Interest expense is recorded at the effective interest rate and paid on January 1 and July 1 of each year. On July 1, 2021, Twin Digital retired the bonds at 102 ($30.6 million) before their scheduled maturity. Required: 1. & 2. Prepare the necessary journal entries by Twin Digital on July 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.) Answer is complete but not entirely correct. General Journal No 1 Date July 01, 2021 Interest expense Discount on bonds payable Cash 2 July 01, 2021 Bonds payable Loss on early extinguishment Discount on bonds payable Cash Debit Credit 1,330,000 130,000 1,200,000 20,000,000 12,700,000 870,000 20,400,000