Current Attempt in Progress Blue Corporation sold $3,250,000,7%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Blue Corporation uses the straight-line method to amortize bond premium or discount (a) Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 107. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually) Date Account Titles and Explanation Debit Credit Cash Premium on Boerds Payable Bonds Payable 3250000 Dec 31 Interest Expense Jan 1 3477500 227500 182000 Premium on Bonds Payable 45500 Interest Payable 227500 Your answer is correct. Prepare journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 98. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Jan. 1 3185000 65000 Discount on Bonds Payable Bonds Payable 3250000 Dec. 31 Interest Expense 240500 Discount on Bonds Payable 13000 Interest Payable 227500 (1) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 107 selling price. BLUE CORPORATION Balance Sheet (Partial) $ (2) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 98 selling price. BLUE CORPORATION Balance Sheet (Partial)