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9:461 LTE AC162 Week 7 Assignment 1 Brief Exercise 1S-12 a-b Sheridan Company issues $4,500,000,...

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Accounting

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9:461 LTE AC162 Week 7 Assignment 1 Brief Exercise 1S-12 a-b Sheridan Company issues $4,500,000, 10-year, 12% bonds at 94, with to amortize bond discount. sa interest payable annually on January 1. The straight-line method is used Prepare the journal entry to record the sale of these bonds on January 1 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Prepare the adjusting journal entry to record interest expense and bond discount amortization on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

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