The statement of fi nancial position for Miley Consulting reports the following information on July 1, 2017.
Question:
Non-current liabilities
Bonds payable £940,000
Miley decides to redeem these bonds at 101 (face value of bonds £1,000,000) after paying annual interest. Prepare the journal entry to record the redemption on July 1, 2017.
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Related Book For 
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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