Accounting Problem

Problem 145 In each of the following independent cases the company closes its books on December 31. Sanford Co. sells $512,300 of 8% bonds on March 1, 2014. The bonds pay interest on September 1 and March 1. The bonds is September 1, 2017. The bonds yield 12%. Prepare a bond amortization schedule using the effectiveinterest method for discount and premium amortization. Am or discount on interest dates and at yearend.(Round answers to 0 decimal places, e.g. 38,548.) Schedule of Bond Discount Amortization EffectiveInterest Method Bonds Sold to Yield Date 3/1/14 9/1/14 3/1/15 9/1/15 3/1/16 9/1/16 3/1/17 9/1/17 Cash Paid Interest Expense $ Prepare all of the relevant journal entries from the time of sale until the date indicated. (Assume that no reversing ent made.) (Round answers to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the acco enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not ind Date 3/1/14 9/1/14 12/31/14 3/1/15 9/1/15 12/31/15 Account Titles and Explanation SHOW LIST OF ACCOUNTS LINK TO TEXT Titania Co. sells $412,000 of 12% bonds on June 1, 2014. The bonds pay interest on Decemb bonds is June 1, 2018. The bonds yield 8%. On October 1, 2015, Titania buys back $127,000 accrued interest). Prepare a bond amortization schedule using the effectiveinterest method for discount and pr discount on interest dates and at yearend.(Round answers to 0 decimal places, e.g. 38,54 Schedule of Bond Discount Amortization EffectiveInterest Method Bonds Sold to Yield Date 6/1/14 12/1/14 6/1/15 12/1/15 6/1/16 12/1/16 6/1/17 12/1/17 6/1/18 Cash Paid Interest Expense $ Discount Amortized $ * Difference due to rounding Prepare all of the relevant journal entries from the time of sale until the date indicated. Give e (Assume that no reversing entries were made.)(Round intermediate calculations to 1 deci to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the accou Credit account titles are automatically indented when amount is entered. Do not inden No. Account Titles and Explanation 6/1/14 12/1/14 12/31/14 6/1/15 10/1/15 (To record interest expense and premium amortization) 10/1/15 (To record buy back of bonds) 12/1/15 12/31/15 6/1/16 12/1/16