On May 1, 2022, Sandhill Corp. issued $600,000, 6%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Dato Account Credi
On May 1, 2022, Sandhill Corp. issued $600,000, 6%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest annually on May 1. Financial statements are prepared annually on December 31. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Dato Account Credi
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:On May 1, 2022, Sandhill Corp. issued $600,000, 6%, 5-year bonds at face value. The bonds were dated May 1, 2022, and pay interest
annually on May 1. Financial statements are prepared annually on December 31.
(a)
Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is
entered. Do not indent manually.)
Date Account Titles and Explanation
May 1,
2022
eTextbook and Media
List of Accounts
Debit
Credit
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