On January 1, 2020, Sheridan Company purchased at face value, a $940,10% bond that pays...
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Accounting
On January 1, 2020, Sheridan Company purchased at face value, a $940,10% bond that pays interest on January 1. Sheridan Company has a calendar year end. The entry for the receipt of interest on January 1, 2021, is O Cash 94 Interest Receivable 94 Interest Receivable 94 Cash 94 Cash 94 Interest Revenue 94 Interest Receivable 94 Interest Revenue 94
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