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Sheridan Inc. issued $760,000 of 9.25%,18-year bonds on January 1,2023 , at 102 . Interest is payable semi-annually on July 1 and January 1 .
Sheridan Inc. issued $760,000 of 9.25%,18-year bonds on January 1,2023 , at 102 . Interest is payable semi-annually on July 1 and January 1 . Sheridan uses the effective interest method of amortization for any bond premium or discount. Assume an effective yield of 9.00%. (With a market rate of 9.00%, the issue price would be slightly higher. For simplicity, ignore this.] (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) eTextbook and Media 1 Attempts: 0 of 2 used Using multiple attempts will impact your score. 25% score reduction after attempt 1 (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above
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