b)

On June 30, 2020, Windsor Company issued $5,840,000 face value of 13, 20-year bonds at 56,279,340, a yield of 12%. Windsor uses the effective interest method to amortire bond premium or discount. The bonds poy semiannual interest on June 30 and December 31 (a) Your answer is correct. Prepare the journal entries to record the following transactions, (Round answer to decimal places, ... 38,548. Ir ne entry is required, select "No Entry for the account tries and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not Indent manually.) (1) The issuance of the bonds on June 30, 2020 (2) The payment of interest and the amortization of the premium on December 31, 2020, (3) The payment of interest and the amortization of the premium on June 30, 2021 (4) The payment of interest and the amortization of the premium on December 31, 2021. No. Date Account Tities and Explanation Debit Credit (1) June 30, 2020 0279340 Banos Payable 5540000 Premium on Bonds Pay 430340 Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2021, balance sheet. (Round answers to decimal places, ... 38,548) Windsor Company Balance Sheet December 31, 2021 Long term Lines Bonds Payable 5840000 Premium on Bonds Payable 436500 Book Vain of Bond Payable 6276500 Click if you would like to show Work for this question: Open Show Work