What amount of gain or loss should RED report on the sale of the bond investment on April1,2021?* On January 1,2019, RED Company purchased P 1,000,000, 12% bonds of BLUE Company for P 1,063,394, a price that yields 10%. Interest on these bonds is payable every December 31. The bonds mature on December 31,2022. On April 1,2021, to pay a maturing obligation, RED sold P 600,000 face value bonds at 101 plus accrued interest. Market value of the bonds on different dates is as follows: December 31,2019 - 108 December 31,2020 - 106 December 31,2021 - 104 Assume the debt investment is intended to speculate on fluctuations of interest or fair value and is held for trading. O P30,000 gain P 12,344 loss P 12,344 gain P 30,000 loss