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Question Help EP14-14 (similar to) DA On January 1, 2018, Kimbrell Corporation issued $42.000 par value, 4%, 4-year bonds that mature on December 31, 2021. The market rate of interest was 8%. Kimbrell pays interest semiannually on June 30 and December 31. Assume that Kimbrell decides to retire the debt on December 31, 2019, for $35,400. (Click the icon to view the Future Value of $1 table.) (Click the icon to view the Future Value of an Ordinary Annuity table.) (Click the icon to view the Future Value of an Annuity Due table.) (Click the icon to view the Present Value of $1 table.) (Click the icon to view the Present Value of an Ordinary Annuity table.) (Click the icon to view the Present Value of an Annuity Due table.) (Click the icon to view the amortization schedule.) What gain or loss should Kimbrell report in its 2019 financial statements? What is the journal entry to record the derecognition? Determine the gain or loss that Kimbrell should report in its 2019 financial statements. (Use a minus sign or parentheses for any loss amounts.) The gain or loss on early retirement reported in