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Pronghorn Corpissued 2,200 9%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1, (a) Prepare the journal entry

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Pronghorn Corpissued 2,200 9%, 5-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1, (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) Date Account Titles and Explanation Debit Credit Jan 1, 2022 Cash 2200000 Bonds Payable 2200000 (b) Prepare the adjusting journal entry on December 31, 2022 to record interest expense. (Credit account titles are automatically Indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Dec 31, 2022 Interest Expert 11000 Interest Payable 1100000 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Debit Credit Account Titles and explanation Dec 31, 2022 Interest Expense 11000 Interest Payable 1100000 (c) Prepare the journal entry on January 1, 2023, to record interest paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 110000 Jan 1, 2023 Interest Payable Cash 1100000

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