Assume in this problem that the investment is held at amortized Cost. What amount of gain or loss should RED recognize on the sale of investments on April1,2021? On January 1,2019, RED Company purchased P 1,000,000, 12% bonds of BLUE Company for P 1,063,394, a price that yields 10%. Interest on these bonds is payable every December 31. The bonds mature on December 31,2022. On April 1,2021, to pay a maturing obligation, RED sold P 600,000 face value bonds at 101 plus accrued interest. Market value of the bonds on different dates is as follows: December 31,2019 - 108 December 31,2020 - 106 December 31,2021 - 104 Assume the debt investment is intended to speculate on fluctuations of interest or fair value and is held for trading. O P12,344 gain ) P 30,000 loss P 12,344 loss O P 30,000 gain