$($b$)$ Prepare all of the relevant journal entries from the time of sale until December $31,2027.($Assume that no reversing entries were

made.$)($Round present value factor calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and the final answers to $0$ decimal places, e$.$g$.58,971.$

Record entries in the order displayed in the problem statement. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for

the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries

before credit entries.$)$

ate

Account Titles and Explanation

Cash

Bonds Payable

Premium on Bonds Payable

Premium on Bonds Payable

Interest Expense

Premium on Bonds Payable Interest Expense

Interest Payable

Premium on Bonds Payable

Interest Expense

Premium on Bonds Payable

$($To record interest expense and premium amortization$)$

Premium on Bonds Payable

$$

$($To record interest expense and premium amortization$)$

$($To record buy back of bonds$)($To record buy back of bonds$)$

Premium on Bonds Payable

$[]$

Interest Expense

Interest Payable

Premium on Bonds Payable

Cash

Interest Expense

Premium on Bonds Payable

L

$]$

Your answer is partially correct.

Flounder Co$.$ sells $$390,000$ of $12\%$ bonds on June $1,2025.$ The bonds pay interest on December $1$ and June $1.$ The due date of

the bonds is June $1,2029.$ The bonds yield $10\%.$ On October $1,2026,$ Flounder buys back $$120,900$ worth of bonds for

$$124,900($includes accrued interest$).$ Give entries through December $1,2027.$