Bramble Corp. sold $$3,200,000,6\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1$ and pay interest annually on

January $1.$ Bramble Corp. uses the straight$-$line method to amortize bond premium or discount. The bonds were sold at $105.$

$($a$)$

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Prepare the journal entry to record the issuance of the bonds on January $1,2022.($Credit account titles are automatically indented

when amount is entered. Do not indent manually.$)$

Date Account Titles and Explanation

Debit

Credit

Jan. $1,$

Cash

$3,360,000$

$2022$

Cash

Bonds Payable

$3,200,000$

Premium on Bonds Payable

$16,0000$

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List of Accounts

Attempts: $1$ of $1$ used

$($b$)$

Prepare a bond premium amortization schedule for the first four interest periods.

Annual

Interest

Interest Expense

Periods

Interest to Be Paid

to Be Recorded

Premium Amortization

Unamortizes

Issue date

$1$

$

$

$

$2$

$3$

$4$

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