Current Attempt in Progress Your answer is partially correct. On January 2, 2015, Skysong Corporation issued $1,250,000 of 10% bonds at 97 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method.") The bonds are callable at 102 (le, at 102% of face amount), and on January 2, 2020, Skysong called $750,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Skysong as a result of retiring the $750,000 of bonds in 2020. (Round answer to O decimal places, e.g. 38,548) Loss on redemption Prepare the journal entry to record the redemption, (Round answers to O decimal places, eg. 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 amount is entered. Do not indent manually.) Date January 2 2020 Account Titles and Explanation Bonds Payable Loss on Redemption of Bonds be here to search Discount on Bonds Payable Cash Debit Credit 750000 10