Blue Spruce Corporation had bonds outstanding with a maturity value of

$$490,000.$ On April $30,2023,$ when these bonds had an unamortized discount of

$$8,000,$ they were called in at $102.$ To pay for these bonds, Blue Spruce had

issued other bonds a month earlier bearing a lower interest rate. The newly

issued bonds had a life of $8$ years. The new bonds were issued at $101($face value

$$490,000.$ Issue costs related to the new bonds were $$3,800.$ All issue costs

were capitalized. Blue Spruce prepares financial statements in accordance with

IFRS.

Ignoring interest, calculate the gain or loss and record this refunding transaction.

$($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. List all debit entries before credit entries.$)$