prepare a journal entry to record the sale of thes bonds on january 1 2017

The balance sheet for Miley Consulting reports the following information on July 1, 2017 Long-term liabilities Bonds payable Less: Discount on bonds payable $4,500,000 315,000 $4,185,000 Miley decides to redeem these bonds at 101 after paying annual interest. Nasreen Company issues $3,000,000, 10-year, 7% bonds at 98, with interest payable each January 1. 111111 IL FUL