Reference no: EM133062437
Question - Sheridan Company has issued three different bonds during 2022. Interest is payable annually on each of these bonds.
1. On January 1, 2022, 1,200, 7%, 5-year, $ 1,000 bonds dated January 1, 2022, were issued at face value.
2. On July 1, $ 885,000, 8%, 5-year bonds dated July 1, 2022, were issued at 102.
3. On September 1, $ 375,000, 6%, 5-year bonds dated September 1, 2022, were issued at 97.
Required - Prepare the journal entries to record each bond transaction at the date of issuance.
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