Weygandt, Accounting Principles, 12e Help I System Announcements PRINTER VERSION 4BACK NEXT Brief Exercise 15-6 Your answer is partially correct. Try again. The balance sheet for Miley Consulting reports the following information on July 1, 2017. Long-term liabilities Bonds payable $2,200,000 Less: Discount on bonds payable 110,000 $2,090,000 Miley decides to redeem these bonds at 105 after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation July 1 Bonds Payable Debit Credit 2200000 Discount on Bonds Payable Gain on Bond Redemption Cash SHOW LIST OF ACCOUNTS LINK TO TEXT