On January 2, 2020, Pronghorn Corporation issued 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 101 (i.e., at 101% of face value), and on January 2, 2025, Pronghorn called $720,000 face value of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Pronghorn as a result of retiring the $720,000 of bonds in 2025. (Round answer to O decimal places, e.g. 38,548.) Loss on redemption $ 10800 Prepare the journal entry to record the redemption. (Round answers to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Cledit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation January 2, 2025 Debit Credit