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On April 1, 2019, Sheridan issued $1,800,000,9% bonds for $1,936,323 including accrued interest. Interest is payable annually on January 1, and the bonds mature on
On April 1, 2019, Sheridan issued $1,800,000,9% bonds for $1,936,323 including accrued interest. Interest is payable annually on January 1, and the bonds mature on January 1, 2029. (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.) On July 1, 2021 Sheridan retired $540,000 of the bonds at 102 plus accrued interest. Sheridan uses straight-line amortization. (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. Round answers to decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit (To record interest and premium on bonds) (To record entry for retirement of bonds)
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