The balance sheet for Miley Corporation reports the following information on July 1, 2024. Non-current liabilities Bonds

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The balance sheet for Miley Corporation reports the following information on July 1, 2024.

Non-current liabilities

Bonds payable, 4%, due 2027 ......................................... $940,000

The face value of these bonds is $1 million. Miley decides to redeem these bonds at 101 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2024.

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Accounting Principles Volume 2

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9th Canadian Edition

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak

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Question Posted: Jan 26, 2023 07:03 AM

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The balance sheet for Miley Corporation reports the following information on July 1, 2024. Non-current liabilities Bonds

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