CALCULATOR BACK Cuestion of Question 1 Nash Electric sold 2,830,000,8%, 10-vear bonds on January 1, 2017. The bonds were dated January 1 and pay interest annually on January 1, Nash Clectricises the straight line method to amortize bond premium or discount. The bonds were sold at 101. Assume the country allows the use of straight line amortization for bond premium and discounts NEXT Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entired. Do not under manually.) Date Account Titles and Explanation DAINI CM Jan. 1. 2017 Prepare a bond premium amortization schedule for the first 4 Interest periods Annual Interest Expense Interest Periods Interest to Be Paid to Be Recorded Issue date Premium Amortization Hond Carrying Value Prepare the journal entries for interest and the amortization of the premium in 2017 and 2018. (Crexit account titles are automatically indented when a count is entered Do not indent manually.) Date Account Titles and Explanation Debil Credit Dec. 31 2010 Jan 1 Dec. 31 Show the statement of financial position presentation of the bond liability at December 31, 2018. NASH ELECTRIC Statement of Financial Position