Brentley Industries decided to redeem its bonds early, two years before its official maturity date. The bonds had a book value (face value less unamortized discount) of $950,000 and a face value of $1,000,000. Brentley paid the bondholders $980,000 to redeem the bonds. Did they recognize a gain or a loss? (Type in the word gain or the word loss.) Of how much? (Enter with commas, no decimals, no \$ signs) HINT: Make the journal entry. Remember, you need to remove the Bond Payable and Bond Discount Payable accounts. Answer 1: gain Answer 2: 30,000