Titania Co. sells $ 400,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 10%. On October 1, 2021, Titania buys back $ 120,000 worth of bonds for $ 126,000 (includes accrued interest). Give entries through December 1, 2022. What is the calculation of gain on redemption?