The Sunland Company issued $260,000 of 11% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable each July 1 and January 1. The bonds were issued at 98. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Sunland Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation No. (a) (b) (c) Date Debit Cred
The Sunland Company issued $260,000 of 11% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable each July 1 and January 1. The bonds were issued at 98. Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Sunland Company records straight-line amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Account Titles and Explanation No. (a) (b) (c) Date Debit Cred
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The Sunland Company issued $260,000 of 11% bonds on January 1, 2025. The bonds are due January 1, 2030, with interest payable
each July 1 and January 1. The bonds were issued at 98.
Prepare the journal entries for (a) January 1, (b) July 1, and (c) December 31. Assume The Sunland Company records straight-line
amortization semiannually. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles
are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Account Titles and Explanation
No.
(a)
(b)
(c)
Date
Debit
110
Cred
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