Question: Question 12 View Policies Current Attempt in Progress On January 1, 2019, Moon Enterprises sold 8%, 20-year bonds with a face amount of $1,000,000 for

Question 12 View Policies Current Attempt in Progress On January 1, 2019, Moon Enterprises sold 8%, 20-year bonds with a face amount of

Question 12 View Policies Current Attempt in Progress On January 1, 2019, Moon Enterprises sold 8%, 20-year bonds with a face amount of $1,000,000 for $950,000. Interest is payable annually on January 1. Calculate the carrying value of the bond at December 31, 2019 and 2020. December 31, 2019 $ December 31, 2020 $ Question 7 --/1 View Policies Current Attempt in Progress Sheridan Inc. issues an $820,000, 10%, 10-year mortgage note on December 31, 2020, to obtain financing for a new building. The terms provide for annual installment payments of $130,000. Prepare the entry to record the mortgage loan on December 31, 2020, and the first installment payment on December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit

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