Exercise 14-15 Martinez Company had bonds outstanding with a maturity value of $294,000. On April 30, 2017, when these bonds had an unamortized discount of $9,000, they were called in at 104. To pay for these bonds, Martinez 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 102 (face value $294,000). Ignoring interest, compute the gain or loss. Loss on redemption Ignoring interest, record this refunding transaction. (If no entry is required, select "No Entry" for the acccount titles and enter 0 for the amounts. Credit account titles are automatically indented when amount entered. Do not indent manually.) Account Titles and Explanation Debit Credit (To record redemption of bonds payable)