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CALCULATOR Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, c.g. 15,250. Credit account titles are a amount is

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CALCULATOR Prepare the journal entries to record the following transactions. (Round answers to 0 decimal places, c.g. 15,250. Credit account titles are a amount is entered. Do not indent manually.) (1) The issuance of the bonds on January 1, 2020. (2) Accrual of interest and the amortization of the premium on December 31, 2020. (3) The payment of interest on January 1, 2021. (4) Accrual of interest and amortization of the premium on December 31, 2021. No. Date Account Titles and Explanation Debit Credit (1) Jan. 1, 2020 Cash 2,186,751 Bonds Payable 2,030,000 Premium on Bonds Payable 156,751 (2) Dec 31, 2020 Interest Expense 109,338 Premium on Bonds Payable 12,462 Interest Payable 121,800 (3) Jan. 1, 2021 Interest Payable 121,800 Cash 121,800 (4) Dec 31, 2021 Interest Expense 108,715 Premium on Bonds Payable 13,085 Interest Payable 121,800 Click if you would like to show Work for this question Open Show Work By accessing this Question Assistance, you will learn while you Attempts: 2 of 15 used (b) Show the proper long-term liabilities balance sheet presentation for the liability for bonds payable at December 31, 2021. (Round answers to 0 decimal places, e.g. 15,250. Enter account name only and do not provide descriptive information.) Sheridan Company Balance Sheet (Partial) December 31, 2021 Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Attempts: 0 of 15 used SAVE FOR LATER SUBMIT ANSWER The parts of this question must be completed in order. This part will be available when you complete the part above I o search Prisen Home End Poup PII x 5 % 5 & 7 OD 0 3 4. 6 P E R. Y U

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