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problem 1502a ac video sunland electric sold 5615000 10 10year...

Question: problem 1502a ac video sunland electric sold 5615000 10 10year...

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Problem 15-02A a-c (Video) Sunland Electric sold $5,615,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020, and paid interest on anuary 1. The bonds were sold at 96. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Jan. 1, 2020 At December 31, 2020, $7,900 of the Discount on Bonds Payable account has been amortized. Show the balance sheet presentation of the long- term liability at December 31, 2020. (Enter account name only and do not provide descriptive information.) Sunland Electric Balance Sheet (Partial) On January 1, 2022, when the carrying value of the bonds was $5,406,200, the company redeemed the bonds at 101. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Jan. i, 2022 LEST OF ACCOUNTS

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