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Here are selected 2022 transactions of Sunland Corporation Jan 1 June 30 Retired a piece of equipment that was purchased on January 1, 2012. The

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Here are selected 2022 transactions of Sunland Corporation Jan 1 June 30 Retired a piece of equipment that was purchased on January 1, 2012. The equipment cost $82,500 and had a useful life of 10 years with no salvage value. Sold equipment that was purchased on January 1, 2020. The equipment cost $117,000 and had a useful life of 3 years with no salvage value. The equipment was sold for $13,500 cash, Sold equipment for $18,750 cash. The equipment cost $64,500 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $4,500 salvage value. Dec. 31 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Sunland Corporation uses straight-line depreciation. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Accumulated Depreciation Equipment Jin 1 Equipment June 30 (To record depreciation) Dec 31 Current Attempt in Progress Kingbird, Inc. had these transactions during the current period. June 12 Issued 54.000 shares of $5 stated value common stock for cash of $280,000. July 11 Issued 4,600 shares of $100 par value preferred stock for cash at $107 per share Nov. 28 Purchased 3,000 shares of treasury stock for $12,000. Prepare the journal entries for the preceding transactions:(Credit occount titles are automatically Indented when the amount is entered Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Pronghorn Company issued $2,340,000,6%, 20-year bonds on January 1, 2020, at 105. Interest is payable annually gn January 1 Pronghorn uses straight-line amortization for bond premium or discount Prepare the journal entries to record the following events. (Credit account titles are automatically indented when the amount is entered Do not indent manually) (b) (c) (d) The issuance of the bonds. The accrual of interest and the premium amortization on December 31, 2020. The payment of interest on January 1, 2021. The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded. Debit Credit Date Account Titles and Explanation Jan 1, 2020 Cash 2,340.000 Bonds Payable Premium on Bonds Payable Dec 31, 2020 Interest Payable Cash Jan 1.2020 Bonds Payable Cash

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