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I NEED HELP THIS QUESTION C. I provided all the information needed to help me answer the question (but the answer is at the last
I NEED HELP THIS QUESTION C.
I provided all the information needed to help me answer the question (but the answer is at the last part or the last picture)
thank you.
On January 1, 2023, Sheridan Corporation purchased a newly issued $1,550,000 bond. The bond matured on December 31,2025 , and paid interest at 6% every June 30 and December 31. The market interest rate was 8%. Sheridan's fiscal year-end is October 31, and the company had the intention and ability to hold the bond until its maturity date. The bond will be accounted using the amortized cost model. Click here to view Table A.2 - PRESENT VALUE OF 1 - (PRESENT VALUE OF A. SINGLE SUM) Click here to view Table A.4 - PRESENT VALUE OF AN ORDINARY ANNUITY OF 1 (a) Calculate the price paid for the bond using a financial calculator or Excel functions. (Round answers to 2 decimal places, e.g. 52.75.) PV \$ eTextbook and Media Attempts: 1 of 3 used (b) Prepare an amortization schedule for the bond. (Round answers to 2 decimal places, e.g. 52.75.) Prepare the journal entries on the bools of Sheridan Corporation for each of the following dates. (Round answers to 2 decimal places, es. 52.75. 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 tities and enter 0 for the amounts. Recond entries in the onder displayed in the problem statement. List all debit entries before credit entries.) - January 1,2023 - June 30,2023 - October 31,2023 - Dacember 31,2023 - December 31,2025 [two entries] one for interest and one for maturity of bond Prepare an amortization schedule for the bond. (Round answers to 2 decimal places, e.g. 52.75.) eTextbook and Media List of Accounts Attempts: 1 of 3 used (c) Prepare the joumal entries on the books of Sheridan Corporation for each of the following dates. (Round answers to 2 decimal places, e.g. 52.75. 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 0 for the amounts. Record entries in the order displayed in the problem statement. List all debit entries before credit entries.) - January 1, 2023 - June 30,2023 - October 31, 2023 - December 31, 2023 - December 31, 2025 (two entries) one for interest and one for maturity of bondStep by Step Solution
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