Current Attempt in Progress In each of the following independent cases, the company closes its books on December 31 Sarasota Co sells $483,000 of 10% bonds on March 1, 2020. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2023. The bonds yield 12%. Give entries through December 31, 2021. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to decimal places, eg. 38,548) Schedule of Bond Discount Amortization Effective Interest Method Bonds Sold to Yield Carryin Interest Amount Expense Cash Pald Discount Amortized Bonds Date 3/1/20 $ $ 9/1/20 3/1/21 9/1/21 3/1/22 9/1/22 3/1/23 9/1/23 Prepare all of the relevant journal entries from the time of sale until December 31, 2021. (Assume that no reversing entries were made) (Round present value factor calculations to 5 decimal places 1.25124 and the final answers to decimal placeres 58,971. If no entry is required, select 'No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered Do not indent manually Account Titles and Explanation Debit Credit Date 3/1/20 Discount on Bonds Pavate Bonds able BR le P W Prepare all of the relevant journal entries from the time of sale until December 31, 2021. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Debit Credit Account Titles and Explanation Cash 3/1/20 Discount on Bonds Payable Bonds Payable 9/1/20 Interest Expense Discount on Bonds Payable Cash 12/31/20 Interest Expense Discount on Bonds Payable Discount on Bonda Payable Interest Payable 3/1/21 Interest Expense Interest Payable Discount on Bonds Payable Cash 9/1/21 Interest Expense Discount on Bonds Payable Cih 12/31/21 Interest Expense Discount on Bonds Pwable Interest Payable eTextbook and Media Ivanhoe Co. sells $426,000 of 12% bonds on June 1, 2020. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2024. The bonds yield 10%. On October 1, 2021, Ivanhoe buys back $140,580 worth of bonds for $145,580 (includes accrued interest). Give entries through December 1, 2022. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to decimal places, eg, 38,548.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Carryi Cash Interest Premium Amoun Date Paid Expense Bond Amortized 6/1/20 $ $ $ $ 12/1/20 6/1/21 12/1/21 6/1/22 12/1/22 6/1/23 12/1/23 6/1/24 Difference due to rounding Prepare all of the relevant journal entries from the time of sale until December 31, 2022. (Assume that no reversing entries were made. (Round present value foctor calculations to 5 decimal places, s 1.25124 and the final answers to decimal placeses 58.971. If no entry is required, select "No Entry for the account titles and enter for the amounts Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation 6/1/20 Question 1 of 1 Unterne uue turuung Prepare all of the relevant journal entries from the time of sale until December 31, 2022. (Assume that no reversing e. tries were made.) (Round present value factor calculations to 5 decimal places, eg. 1.25124 and the final answers to decimal places eg. 58,971. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation 6/1/20 12/1/20 12/31/20 6/1/21 10/1/21 To record interest expense and premium amortization) 10/1/21 (To record buy back of bonds)