Question

CALCULATOR PRINTER VERSION Exercise 15-05 a-c Sheridan Company issued $2,020,000 of bonds on January 1, 2020. Prepare the journal entry to record the issuance of the bonds if they are issued at (1) 100, (2) 99, and (3) 104. (Credit account titles are automatically indented when amot not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3) SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the redemption of the bonds at maturity, assuming the bonds were issued at 100. (Credit account titles are automatically indented when a entered. Do not indent manually.) Credit Debit Account Titles and Explanation 6 W MacBook Pro

Answer 1

No	Account titles & Explanations					Debit	Credit
1)	Cash					2,020,000
	Bonds payable						2,020,000
2)	Cash					1999800
	Discount on bonds payable					20200
	Bonds payable						2,020,000
3)	Cash					2100800
	premium on bonds payable						80800
	Bonds payable						2,020,000
No	Account titles & Explanations					Debit	Credit
	Bonds payable					2,020,000
	cash						2,020,000
	Bonds payable					2,020,000
	premium on bonds payable					9,550
	Gain on redemption						29,750
	cash						1999800