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Sandhill Company has issued three different bonds during 2020. Interest is payable annually on each of these bonds. 1.On January 1, 2020,1,600,6%, 5-year, $1,000bonds dated
Sandhill Company has issued three different bonds during 2020. Interest is payable annually on each of these bonds.
1.On January 1, 2020,1,600,6%, 5-year, $1,000bonds dated January 1, 2020, were issued at face value.2.On July 1, $800,000,7%, 5-year bonds dated July 1, 2020, were issued at101.3.On September 1, $275,000,5%, 5-year bonds dated September 1, 2020, were issued at98.
Prepare the journal entries to record each bond transaction at the date of issuance.
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