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10. On the date of issue, Sheridan Corporation sells $5.80 million of 5-year bonds at 98. The entry to record the sale will include the

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On the date of issue, Sheridan Corporation sells $5.80 million of 5-year bonds at 98. The entry to record the sale will include the following debits and credits: Bonds Payable Discount on Bonds Payable $5684000 Cr. $0 Dr. O $5800000 Cr. $11600 Dr. $5800000 C $116000 DE O $5684000 C $1392000 D

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