Sandhill Co. sold $5,600,000, 7%, 15-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on December 31. The bonds were sold at 97. Prepare the journal entry to record the issuance of the bonds on January 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1, 2025 Debit Credit
Sandhill Co. sold $5,600,000, 7%, 15-year bonds on January 1, 2025. The bonds were dated January 1, 2025, and pay interest on December 31. The bonds were sold at 97. Prepare the journal entry to record the issuance of the bonds on January 1, 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Jan. 1, 2025 Debit Credit
Chapter13: Long-term Liabilities
Section: Chapter Questions
Problem 5PB: Dixon Inc. issued bonds with a $500,000 face value, 10% interest rate, and a 4-year term on July 1,...
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