West Bengal Company sold Rs3,000,000, 8%, 10-year bonds on July 1, 2014. The bonds were dated July 1, 2014, and pay interest July 1 and January 1. West Bengal Company uses the straight-line method to amortize bond premium or discount. Assume no interest is accrued on June 30.

Instructions
(a) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bonds sold at 103.
(b) Prepare journal entries as in part (a) assuming that the bonds sold at 96.
(c) Show statement of financial position presentation for each bond issued at December 31, 2014.