On January 1, 2020, Sandollar Inc. issued $48,000 of bonds at 98, paying 8% cash interest semiannually on June 30 and December 31. The bonds are scheduled to mature December 31, 2023. The straight-line interest method is used to amortize bond discounts and premiums. On June 30, 2021, the bonds have a remaining discount of $600. On July 1, 2021, $48,000 of the bonds were retired when the bonds were selling at 101. The amount of gain or loss on the early redemption of the bonds is O Aloss of $480 A gain of $1,080 O Again of $480 A loss of $1,080