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Discuss journal entries to record the issuance of the bonds

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Saberhagen company sold $3300000, 6%, 10-year bonds on January 1, 2017. The bonds were dated January 1, 2017 and pay interest annually on January 1. Saberhagen company uses the straight line method to amortize bond premium or discount.

Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 102.

Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 96.

Show balance sheet presentation for the bonds at December 31, 2017

Reference no: EM131776638

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