Additional Problem 3 On July 1, 2017 Sarasota Limited issued bonds with a face value of $1,192,000 due in 20 years, paying interest at a face rate of 6% on January 1 and July 1 each year. The bonds were issued to yield 8%. The company's year-end was September 30.The company used the effective interest method of amortization. Click here to view the factor table.(For calculation purposes, use 5 decimal places as displayed in the factor table provided.) Your answer is correct. Calculate the premium or discount on the bonds. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 5,275.) Discounton bond 235930 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is correct. Prepare a partial Bond Premium/Discount Amortization Schedule for Sarasota Limited. Only prepare the entries in the schedule for July 1, 2017, January 1, 2018, and uly 1, 2018. (Round answers to O decimal places, e.g. 5,275.) Prepare a partial Bond Premium/Discount Amortization Schedule for Sarasota Limited. Only prepare the entries in the schedule for July 1, 2017, January 1, 2018, and July 1, 2018. (Round answers to O decimal places, e.g. 5,275.) Discount Carrying Value Date Cash Paid Interest Expense Amortized 956070 1-Jul-17 1-Jan-18 38243 35760 2483 958553 1-Jul-18 35760 38342 2582 961135 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is correct. Prepare the journal entry to record the issue of the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers t O decimal places, e.9-5,2 ate Account Titles and Explanation Debit Credit uly 1 Cash 956070 Bonds Payable 956070 SHOW LIST OF ACCOUNTS LINK TO TEXT Date Account Titles and Explanation Debit Credit 17880 Sept. 30 Interest Expense Bonds Payable 35760 interest payable 2483 SHOW LIST OF ACCOUNTS Your answer is partially correct. Try again. Prepare the journal entry on January 1, 2018 when Sarasota makes the first payment of interest on the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g. 5,275.) Prepare the journal entry on January 1, 2018 when Sarasota makes the first payment of interest on the bonds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to O decimal places, e.g.5,275.) Debit Credit Jan. 1, 2018 Interest Payable 35760 Interest Expense 2483 cash