1) Cullumber Ski Mountain sold 2200 season passes at $742 before the start of the 2025 ski season. Cullumber recognizes the revenue equally over the 5-month season which runs from November through March. The adjusting entry needed at December 31, 2025 for its annual financial statements will include

A) a credit to Unearned Season Pass Revenue for $1632400.

b) a debit to Unearned Season Pass Revenue for $652960.

c) a credit to Season Pass Revenue for $326480.

d) a debit to Unearned Season Pass Revenue for $979440.

2)Sheridan Corporation retires its $420000 face value bonds at 105 on January 1, following the payment of interest. The carrying value of the bonds at the redemption date is $435729. Sheridan's entry to record the redemption will include a

a)debit of $21000 to Premium on Bonds Payable.

b)credit of $15729 to Loss on Bond Redemption.

c)debit of $15729 to Premium on Bonds Payable.

d)credit of $5271 to Gain on Bond Redemption.

3)A company issues $16900000, 5.8%, 20-year bonds to yield 6% on January 1, 2024. Interest is paid on June 30 and December 31. The proceeds from the bonds are $16509360.35. If the effective-interest method of amortization is used, what amount of interest expense will be recognized in 2024?

$990717

$980200

$490100

$990648