On 1 January Snowflake Ltd issued $93,000 6% unsecured notes at 100. Interest is payable half-yearly on 1 July and 1 January. Interest is not accrued on 30 June. Snowflake Ltd's year-end is 31 December.

After paying interest for the year, Snowflake Ltd redeemed $144,000 face value, 11% debentures on 30 June 2016 at 104. The carrying amount of the debentures at the redemption date was $144,000. The debentures pay half-yearly interest, and the interest payment due on 30 June 2016 has been made and recorded.

1. Prepare the appropriate journal entry for the redemption of the debentures.