Kimmel, Financial Accounting, Be Hep I TOR PRINTER VERS?ON BACK Exercise 10-10 (

Question

Kimmel, Financial Accounting, Be Hep I TOR PRINTER VERS?ON BACK Exercise 10-10 (Part Level Submission) Sandhill Co. issued $600,000, 10-year, 8% bonds at 105. ? (a) Prepare the journal entry to record the sale of these bonds on January 1, 2017.(Credit account titles are a amount is entered. Do not indent manually.) utomatically Indented when Debit Credit Date Account Titles and Explanation Jan. 1 Attempts: 0 of 5 used SAVE POR LATER SUBMIT ANSWER udy The parts of this question must be completed in order. This part will be avaiable when you complete the part above. 5 6 8 9 0 0

Explanation / Answer

Journal entry :

Date accounts & explanation debit credit Jan 1 Cash (600000*105/100) 630000      Bonds payable 600000      Premium on bonds payable 30000 (To record sale of bonds)

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