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Sage Inc. issued a $580,000, 5.5 percent, 6-year bond payable at a price of 93 on January 1, 2020. Journalize the following transactions for
Sage Inc. issued a $580,000, 5.5 percent, 6-year bond payable at a price of 93 on January 1, 2020. Journalize the following transactions for Sage the Include an explanation for each entry Sage uses the sight in method to amonize the bond discount a. Issuance of the bond payable on January 1, 2020 b. Payment of semi-annual interest and amortization of bond discount on July 1, 2020 a. Record the issuance of the bond payable on January 1, 2020 (Record debits first, then credits. Select the explanation on the l Date Jan $ Journal Entry Accounts Debit Credit ne of the journal entry table 4
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