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Carla Vista Company sold $3,200,000, 6%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020 and pay interest annually on January

Carla Vista Company sold $3,200,000, 6%, 10-year bonds on January 1, 2020. The bonds were dated January 1, 2020 and pay interest annually on January 1. Carla Vista Company uses the straight-line method to amortize bond premium or discount. Show balance sheet presentation for the bonds at December 31, 2020

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Carla Vista Company Balanoe Sheet (Partial) December 31, 2020 Premium 3200000 Bonds Payable Total Long-term Liabilities Lease Liability Add 128000 $ Premium on Bonds Payable Carla Vista Company Balance Sheet (Partial) December 31, 2020 Discount Click if you would like to Show Work for this question: Open Show Work Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 3328000 Bonds Payable 3200000 Premium on Bonds Payable 128000 Dec. 31, 2020 Premium on Bonds Payable 12800 Interest Expense 179200 Interest Payable 192000 Date Account Titles and Explanation Debit Credit Jan. 1, 2020 Cash 3136000 Discount on Bonds Payable 64000 Bonds Payable 3200000 Dec. 31, 2020 Interest Expense 198400 Discount on Bonds Payable 6400 Interest Payable 192000

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