Sarasota Company had bonds outstanding with a maturity value of $276,000. On April 30,2025 , when these bonds had an unamortized discount of $11,000, they were called in at 104 . To pay for these bonds, Sarasota had issued other bonds a month earlier bearing a lower interest rate. The newly issued bonds had a life of 10 years. The new bonds were issued at 101 (face value $276,000 ). Ignoring interest, compute the gain or loss. on redemption $ Ignoring interest, prepare the two entries to record this refunding transaction. (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 the amount is entered. Do not indent manually. List all debit entries before credit entries.)