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Pharoah Company issued $520,000, 15-year, 6% bonds at 96. (a) - Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Premium on Bonds Payable Bonds Payable Debit Credit

Pharoah Company issued $520,000, 15-year, 6% bonds at 96. (a) - Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Premium on Bonds Payable Bonds Payable Debit Credit

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Pharoah Company issued $520,000, 15-year, 6% bonds at 96. (a) Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Premium on Bonds Payable Bonds Payable Debit Credit
Transcribed Image Text:Pharoah Company issued $520,000, 15-year, 6% bonds at 96. (a) Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Jan. 1 Cash Premium on Bonds Payable Bonds Payable Debit Credit
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