Exercise 14-15 Monty Company had bonds outstanding with a maturity value of $329,000. On April 30, 2017, when these bonds had an unamortized discount of $10,000, they were called in at 106. To pay for these bonds, Monty 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 $329,000) 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 account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Ignoring interest, record this refunding transaction. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Account Titles and Explanation Bonds Payable Loss on Redemption of Bonds Cash Credit Discount on Bonds Payable To record redemption of bonds payable) Cash Bonds Payable Premium on Bonds Payable To record issuance of new bonds) Click if you would like to Show Work for this question: Open Show Work