Sunland Company issued $ 660,000 of 5-year, 5% bonds at 98 on January 1, 2022. The bonds pay interest annually. (a1) 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.) Account Titles and Explanation Debit Credit (a2) Compute the total cost of borrowing for these bonds. Total cost of borrowing 24 (b1) Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 102. (Credit account titles a automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b2). Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 102. Total cost of borrowing 2$

Sunland Company issued $ 660,000 of 5-year, 5% bonds at 98 on January 1, 2022. The bonds pay interest annually. (a1) 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.) Account Titles and Explanation Debit Credit (a2) Compute the total cost of borrowing for these bonds. Total cost of borrowing 24 (b1) Prepare the journal entry to record the issuance of the bonds, assuming the bonds were issued at 102. (Credit account titles a automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit (b2). Compute the total cost of borrowing for these bonds, assuming the bonds were issued at 102. Total cost of borrowing 2$

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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