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Indigo Corporation issued $568,000 of 11-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $550,960, the company redeemed

Indigo Corporation issued $568,000 of 11-year bonds at a discount. Prior to maturity, when the carrying value of the bonds was $550,960, the company redeemed the bonds at 98.

Prepare the entry to record the redemption of the bonds.

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