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Sarasota Corp. issues 5500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 105. The journal entry to record the issuance will show a credit

Sarasota Corp. issues 5500, 10-year, 8%, $1000 bonds dated January 1, 2020, at 105. The journal entry to record the issuance will show a credit to Cash for $5775000. debit to Cash of $5500000. debit to Premium on Bonds Payable for $275000. O credit to Bonds Payable for $5500000image text in transcribed

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