please show all steps On January 1,2023 , Sandhill Corporation issued $697,000 of...
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On January 1,2023 , Sandhill Corporation issued $697,000 of 7% bonds that are due in 10 years. The bonds were issued for $606,335 and pay interest each July 1 and January 1 . The company uses the effective interest method. Assume an effective rate of 9%. (a) Prepare the company's journal entry for the January 1 issuance. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Account Titles and Explanation Debit Credit eTextbook and Media List of Accounts Attempts: unlimited (b) Your answer is partially correct. Prepare the company's journal entry for the July 1 interest payment. (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries.) eTextbook and Media List of Accounts Attempts: unlimited (c) The parts of this question must be completed in order. This part will be available when you complete the part above
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