Carla Vista Electric sold $$3,250,000,10\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1$ and pay interest Carla Vista Electric sold $$3,250,000,10\%,10-$year bonds on January $1,2022.$ The bonds were dated January $1$ and pay interest

annually on January $1.$ Carla Vista Electric uses the straight$-$line method to amortize bond premium or discount. The bonds were sold

at $103.$

$($a$)$

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. $1,$

$2022$ Prepare a bond premium amortization schedule for the first $4$ interest periods. $\begin{array}{cc}\text{D}\text{a}\text{t}\text{e}& \text{A}\text{c}\text{c}\text{o}\text{u}\text{n}\text{t}\text{T}\text{i}\text{t}\text{l}\text{e}\text{s}\text{a}\text{n}\text{d}\text{E}\text{x}\text{p}\text{l}\text{a}\text{n}\text{a}\text{t}\text{i}\text{o}\text{n}\\ & \text{D}\text{e}\text{b}\text{i}\text{t}\\ & ?\\ & ?\end{array}$ Show the balance sheet presentation of the bond liability at December $31,2023.($Enter account name only and do not provide descriptive information.$)$

Carla Vista Electric

Balance Sheet $($Partial$)$

$

annually on January $1.$ Carla Vista Electric uses the straight$-$line method to amortize bond premium or discount. The bonds were sold

at $103.$

$($a$)$

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. $1,$

$2022$