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Problem 10-09A Sandhill Co. sold $3,190,00, 8%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on
Problem 10-09A Sandhill Co. sold $3,190,00, 8%, 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts Financial statements are prepared annually Your answer is correct Prepare the journal entries to record the suance of the bonds assuming they sold at: (1) 103 and (2) 97. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit 3285700 11/1/22 Cash Bonds Payable 3:90000 Premium on Bonds Payable 95700 2 1/1/22 3094300 Discount on Bonds Payable 95700 Bonds Payable 3:90000 SHOW LIST OF ACCOUNTS
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