On January 2, 2012, Flounder Corporation issued $1,550,000 of 10% bonds at 98 due December 31, 2021 . Interest on the bonds is payable annually each December 3t The discount on the bonds is also being amortized on a straight-line basis over the 10 yeers. (Straight-line is not materially different in effect from the preferable "interest method".) The bonds are callable at 101 (Le., at 101% of face amount), and on January 2, 2017, Flounder called $930,000 face amount of the bonds and redeemed them. tgnoring Income taxes, compute the amount of loss,if any, to be recognized by Flounder as a result of retiring the s93s0,00 of bonds in 2017. (Round answer to o decmal places, e.g. 38,548.) Loss on redemption Prepare the journal entry to record the redemption. (Round answers to 0 decimal places,e.g. 38,548. 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)