In the following two independent cases, the company closes its books on December $31$:

Sage Hill Inc. sells $$2\mathrm{.}01$ million of $8\%$ bonds on March $1,2023.$ The bonds pay interest on September $1$ and March $1.$ The bonds' due date is September $1,2026.$ The bonds yield $10\%.$

million, including accrued interest.

Click here to view the factor table PRESENT VALUE OF $1.$

Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF $1.$

Prepare all of the relevant journal entries from the time of sale until the date indicated.

$($a$1)$

Your answer is partially correct.

Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$I

C

$11$

$80400$

$[$

Interest Payable

$1$