Homework Answers
| Date | Accounts and explanation | Debit(in $) | Credit(in $) | |
| Jan 1,2022 | Cash | $762,200 | ||
| Bonds Payable | $740,000 | |||
| Premium on Bonds | $22,200 | |||
| (To Bond issued at premium) | ||||
| Balance sheet extract as on Dec 31,2025 | ||||
| Long term liabilities | $762,200 | |||
| Less: | Unamortized premium | $13,320 | $748,880 | |
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