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I need b) only please on September 30, 2012, Sunland Company issued 9% bonds with a par value of $610,000 due in 20 years. They
I need b) only please on September 30, 2012, Sunland Company issued 9% bonds with a par value of $610,000 due in 20 years. They were issued a 99 and were alable at ias at any date atter September 30, 2017. Because Sunland Company was able to obtain financing at lower rates, it decided to call the entire issue on September 30, 2018, and to issue new bonds. New 7% bonds were sold in the amount of $950,000 at 104; they mature in 20 years. Sunland Company uses straight line amortization Interest pan ent dates are arch and September 30. (a) Your answer is correct Prepare journal entries to record the redemption of the old issue and the sale of the new issue on September 30, 2018. (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 O for the amounts) Account Titles and Explanation Debit Credit 610000 Bonds Payable of Bonds Discount on Bonds Payable (To record the redemption of old issue) 50000
I need b) only please
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