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Sheridan Company issued $485,000, 15-year, 7% bonds at 98. Prepare the journal entry to record...

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Accounting

Sheridan Company issued $485,000, 15-year, 7% bonds at 98. Prepare the journal entry to record the sale of these bonds on January 1, 2017. Suppose the remaining Discount on Bonds Payable was $5,820 on December 31, 2022. Show the balance sheet presentation on this date.

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