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Asquith Electric sold $486,000, 10%, 10-year bonds on January 1, 2015. The bonds were dated January 1 and paid interest on January 1 and July

Asquith Electric sold $486,000, 10%, 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 102.

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At December 31, 2015, the balance in the Premium on Bonds Payable account is $8,748. Show the balance sheet presentation of accrued interest and the bond liability at December 31, 2015. (For Bonds Payable, Notes Payable and Mortgage payable enter the account name only and do not provide any additional descriptive information e.g. due 2024.) Asquith Electric Balance Shee December 31, 2015

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