Adcock Company issued $450,000, 6%, 20-year bonds on January 1, 2017, at 101. Interest is payable annually on January 1. Adcock uses straight-line amortization for bond premium or discount.

PLEASE HELP WITH PART B

Exercise 15-15 (Part Level Submission) Adcock Company issued $450,000, 6%, 20-year bonds on January 1, 2017, at 101. Interest is payable annually on January 1. Adcock uses straight-line amortization for bond premium or discount. (a) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2017 Cash 454500 Bonds Payable 450000 Premium on Bonds Payable 4500 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 2 of 3 used (b) Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2017 SHOW LIST OF ACCOUNTS