QUESTION 4 On July 1, 2022, Sharon Equipment Dealer issued $5,000,000 of 8% bonds payable that mature in seven years. These bonds were issued at face value and pay interest each June 30 and December 31. Prepare the entries for the issuance of the bonds plus the first interest payment.
QUESTION 4 On July 1, 2022, Sharon Equipment Dealer issued $5,000,000 of 8% bonds payable that mature in seven years. These bonds were issued at face value and pay interest each June 30 and December 31. Prepare the entries for the issuance of the bonds plus the first interest payment.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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answer in text form please (without image), Note: .Every entry should have narration please
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QUESTION 4
On July 1, 2022, Sharon Equipment Dealer issued $5,000,000 of 8% bonds payable that mature in seven years. These bonds were issued at face
value and pay interest each June 30 and December 31. Prepare the entries for the issuance of the bonds plus the first interest payment.
200,000
36.000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F751eefad-94aa-4662-b76b-aea464c52065%2Fa72044d3-fb22-4c0f-bdb3-e80462b48f2c%2Fpdtf4e5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:8
QUESTION 4
On July 1, 2022, Sharon Equipment Dealer issued $5,000,000 of 8% bonds payable that mature in seven years. These bonds were issued at face
value and pay interest each June 30 and December 31. Prepare the entries for the issuance of the bonds plus the first interest payment.
200,000
36.000
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