On January $1,2020,$ Carla Corporation issued $$4,920,000$ of $10\%$ bonds at $103$ due December $31,2029.$ Carla paid $$79,000$ in bond issue costs when the bonds were issue to the market. These will be amortized over the life of the bond. The premium on the bonds is also being amortized on a straight$-$line basis over the $10$ years. $($Straight$-$line is not materially different in effect from the preferable $$interest method$.)$

The bonds are callable at $106($i$.$e$.,$ at $106\%$ of face amount$),$ and on January $2,2025,$ Carla called one$-$half of the bonds and retired them.

Ignoring income taxes, compute the amount of loss, if any, to be recognized by Carla as a result of retiring the $$2,460,000$ of bonds in $2025.$

Loss on redemption $enter the amount of loss on redemption in dollars

Prepare the journal entry to record the retirement