Pharoah Electric sold $6.48 million of 10%, 10-year bonds on January 1, 2021. The bonds were...

   

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Pharoah Electric sold $6.48 million of 10%, 10-year bonds on January 1, 2021. The bonds were dated January 1, 2021, and paid interest on January 1. The bonds were sold at 99. Prepare the journal entry to recore the issuance of the bonds on January 1, 2021. (Credit account titfes are autornatically indented when the amount is entered. Do not indent manualy. If no entry is requlred, select "No Entry" for the account titfes and enter O for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1, 2021 |To record issuance of bands.) Assume that at December 31, 2021, $4,320 of the discount has been amortized. Show the balance sheet presentation of the non-current liability at December 31. 2021. PHAROAH ELECTRIC Balance Sheet (Partial) Assume that on January 1, 2023, when the bonds' amortized cost was $6,423,840, the company redeemed the bonds at 104. Record the redemption of the bonds assuming that interest for the period had already been paid. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record redemption of bonds.) Pharoah Electric sold $6.48 million of 10%, 10-year bonds on January 1, 2021. The bonds were dated January 1, 2021, and paid interest on January 1. The bonds were sold at 99. Prepare the journal entry to recore the issuance of the bonds on January 1, 2021. (Credit account titfes are autornatically indented when the amount is entered. Do not indent manualy. If no entry is requlred, select "No Entry" for the account titfes and enter O for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1, 2021 |To record issuance of bands.) Assume that at December 31, 2021, $4,320 of the discount has been amortized. Show the balance sheet presentation of the non-current liability at December 31. 2021. PHAROAH ELECTRIC Balance Sheet (Partial) Assume that on January 1, 2023, when the bonds' amortized cost was $6,423,840, the company redeemed the bonds at 104. Record the redemption of the bonds assuming that interest for the period had already been paid. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record redemption of bonds.)