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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Related Book For
Accounting Principles Volume 2
ISBN: 9781119786634
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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