On January 2, 2015, Headland Corporation issued $1,050,000 of 10% bonds at 97 due December 31.2024. Interest on the bonds is payable annually each December 31. The discount 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 102 (ie, at 102% of face amount), and on January 2, 2020. Headland called $630,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Headland as a result of retiring the $630,000 of bonds in 2020. (Round answer to O decimal places, eg. 38,548) Loss on redemption $ Prepare the journal entry to record the redemption. (Round answers to O decimal places, eg. 38.548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date January 2, 2020 Account Titles and Explanation Debit Credit