The following information is taken from Bramble Corp.'s balance sheet at December 31, 2025.

Current liabilities
Interest payable 87,000
Long-term liabilities
Bonds payable (4%, due January 1, 2027) $2,880,000
Less: Discount on bonds payable 28,800 2,851,200

Interest is payable annually on January 1. The bonds are callable on any annual interest date. Bramble uses straight-line amortization for any bond premium or discount. From December 31, 2025, the bonds will be outstanding for an additional 10 years (120 months).

Required:

Assume on january 1, 2026, after paying interest, that blossom corp. calls bonds having a face value of $498,000. the call price is 102. record the redemption of the bonds.