Asquith Electric sold $409,000, 12%, 10-year bonds on January 1, 2015. The bonds were dated January 1 and paid interest on January 1 and July 1. The bonds were sold at 105.

Prepare the journal entry to record the issuance of the bonds on January 1, 2014. (Credit account titles are autonatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Jan. 1, 2014 At December 31, 2014, the balance in the Premium on Bonds Payable account is $8,838. Show the balance sheet presentation of accrued interest and the bond liability at December 3 2014. (For Bonds Payable, Notes Payable and Mortgage additional descriptive information e.g. due 2024.) Asquith Electric Balance Sheet 31, 2011 On January 1, 2016, when the car g value of the bonds was $498,856, the company redeemed the bonds at 103. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are auto myin manually.) Account Titles and Explanation Jan. 016