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The balance sheet for Blossom Consulting reports the following information on July 1, 2020. Long-term...

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The balance sheet for Blossom Consulting reports the following information on July 1, 2020. Long-term liabilities Bonds payable $2,900,000 Less: Discount on bonds payable 116,000 $2,784,000 Blossom decides to redeem these bonds at 103 after paying annual interest Prepare the journal entry to record the redemption on July 1, 2020. (Credit account titles ar Date Account Titles and Explanation Debit Credit July 1

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