Question 4 of 12 View Policies Current Attempt in Progress -/10 E On January 2, 2015, Indigo Corporation issued $1,300,000 of 10% bonds at 98 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 101 (i.e., at 101% of face amount), and on January 2, 2020, Indigo called $780,000 face amount of the bonds and redeemed them. Ignoring income taxes, compute the amount of loss, if any, to be recognized by Indigo as a result of retiring the $780,000 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, e.g. 38,548. If no ent Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when a indent manually) Date Account Titles and Explanation January 2, 2020 Debit. uired, select "No entered. Do not Credit