Sunland company sold $3170000, 9% 10 years bonds on Jan 1,2022. the bonds were dated Jan 1,2022 and pays interest on jan 1. the company uses straight line amortization on bond premiums and discounts. financial statements are prepared annually.

 

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Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 103 and (2) 97. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1 1/1/22 2 1/1/22 eTextbook and Media List of Accounts Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 103 and (2) 97. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 1 1/1/22 2 1/1/22 eTextbook and Media List of Accounts

Answer rating: 100% (QA)

Date Account titles Explanations Debit Credit 1Jan Cash 3170000103 3265100 Premium on bonds 95100 Bo... View the full answer