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pls answer On January 2, 2015 Banno Corporation issued $1.500,000 of 10% bonds at...

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On January 2, 2015 Banno Corporation issued $1.500,000 of 10% bonds at 97 duc December 31, 2024. Interest on the bonds is peyable 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 bands are callable at 101 i.e., at 101% af face amount), and on January 2, 2020, Banno called $900.0CC face amount of the bonds and redeemed them. Ignoring income taxrs, compute the amount of loss if any to be recognized lay Banno as a result of retiring the $900,000 of bonds in 2020. (Round answer to O decimal places, e-9.38,548.) Loss on redemption $ Prepare the journal entry to record the redemption (Round answers to 0 decimal places, e.g. 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 Account Titles and Explanation Debit Credit January 2. 2020

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