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  3. sandhill co. sold $3,300,000, 7%, 10-year bonds on

Sandhill Co. sold $3,300,000, 7%, 10-year bonds on January 1, 2017. The bonds were dated January...

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Accounting

Sandhill Co. sold $3,300,000, 7%, 10-year bonds on January 1,2017. The bonds were dated January 1, 2017, and pay interest onJanuary 1. The company uses straight-line amortization on bondpremiums and discounts. Financial statements are preparedannually.

Show the long-term liabilities balance sheet presentation forissuance of the bonds sold at 104 at December 31, 2017.

Show the long-term liabilities balance sheet presentation forissuance of the bonds sold at 97 at December 31, 2017.

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Solution a Bonds Issued at 104 Face Value 3300000 Issue Price 3300000 104 3432000 Maturity 10 years Premium on Bonds payable 3432000 3300000 132000    See Answer
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