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I need help answering the correct math for the sale of the bonds Jan 1 2022 Sandhill Inc. issues $5,000,000,5-year, 12% bonds at 101 ,
I need help answering the correct math for the sale of the bonds Jan 1 2022
Sandhill Inc. issues $5,000,000,5-year, 12% bonds at 101 , with interest payable annually on January 1 . The straight-line method is used to amortize bond premium. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)Step by Step Solution
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