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Answer as a schedule fill in the blanks correctly, ill give like. Bloasom Electric sold e3,000,000, 89, 10-yaar bonds on January 1,2020. The bonds were
Answer as a schedule fill in the blanks correctly, ill give like.
Bloasom Electric sold e3,000,000, 89, 10-yaar bonds on January 1,2020. The bonds were datad January 1 and pay interest annually an January 1. Blassom Electric uses the straight-line mathod to amortize bond premium or discount The bonds wers sold at 101. Prepare the journal entry to record the issuance of the bonds on January 1,2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Prepare a bond premium amortization schedule for the first 4 intersst pariods. Prepare the journal entries for interest and the amortization of the premium in 2020 and 2021 . (Credit account titles are outomatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Show the statement of financial position presentation of the bond liability at December 31, 2021. (Enter account name only and do not provide descriptive information.)Step by Step Solution
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