On January 2,2020 , Ivanhoe Corporation issued $1,400,000 of 10% bonds at 96 due December 31,2029 . Interest on the bonds is payable annually each December 31 . The discount on the bonds is also being amortized on a straight-lipe 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 , Ivanhoe called $840,000 face value of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Ivanhoe as a result of retiring the $840,000 of bonds in 2025. (Round answer to 0 decimal ploces, es. 38,548.) Loss on redemption $ Prepare the journal entry to record the redemption. (Round answers to 0 decimal plocs, es. 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 the amount is entered. Do not indent manually. List all debit entries before credit entries.)