Cheyenne Company had bonds outstanding with a maturity value of $312.000. On April 30, 2020, when these bonds had an unamortized discount of $10,000, they were called in at 106. To pay for these bonds, Cheyenne had issued other bonds a month earlier bearing a lower interest rate. The newly issued bonds had a life of 10 years. The new bonds were issued at 101 (face value $312,000). Ignoring interest, compute the gain or loss. Loss on redemption $ 27720 Ignoring Interest, record this refunding transaction. (If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Account Titles and Explanation 312000 Bonds Payable 27720 Low on Redemption of Bonds 10.000 Discount on Bonds Payable 330720 Cash (To record redemption of bonds payable) 313100 Cach Pavable Question 2 of 5 0.77 Loss on redemption $ 27720 Ignoring interest, record this refunding transaction. (If no entry is required, select "No Entry" for the account titles and enter for amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Bonds Payable 312000 Loss on Redemption of Bonds 27720 Discount on Bonds Payable 10.000 Cash 330720 (To record redemption of bonds payable) Cash 313100 Premium on Bonds Payable Bonds Payable 310000 (To record issuance of new bonds)