fix balance sheet Transcribed Image Text: Pharoah Company issued $560,000, 10-year, 6% bonds at 103. Your answer is correct. Prepare the journal entry to record

fix balance sheet Transcribed Image Text: Pharoah Company issued $560,000, 10-year, 6% bonds at 103.
Your answer is correct.
Prepare the journal entry to record the sale of these bonds on January 1, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date Account Titles and Explanation
Debit
Credit
Jan. 1 Cash
576800
Bonds Payable
560000
Premium on Bonds Payable
16800
SHOW LIST OF ACCOUNTS
SHOW SOLUTION
SHOW ANSWER
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Your answer is partially correct. Try again.
Suppose the remaining Premium on Bonds Payable was $10,080 on December 31, 2020. Show the balance sheet presentation on this date.
PHAROAH COMPANY
Balance Sheet (Partial)
December 31, 2020
Total Liabilities
Bonds Payable
560000
Add +
Premium on Bonds Payable
16,800
576,800

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