Brief Exercise 15-6 The balance sheet for Miley Consulting reports the following information on July 1, 2017 Long-term liabilities Bonds payable Less: Discount on bonds payable $1,000,000 60,000 $940,000 Miley decides to redeem these bonds at 101 after paying annual interest Prepare the journal entry to record the redemption on July 1, 2017. (Credit account titles are automatically indented w manually) Date Account Titles and Explanation July 1 Debit Credit