Exercise $14-10$ On January $1,2017,$ Splish

Company sold $11\%$ bonds having a maturity value of $$450,000$ for

$$467,058,$ which provides the bondholders with a $10\%$ yield. The

bonds are dated January $1,2017,$ and mature January $1,2022,$ with

interest payable December $31$ of each year. Splish Company allocates

interest and unamortized discount or premium on the

effective$-$interest basis. Prepare the journal entry at the date of

the bond issuance. $($Round answer to $0$ decimal places, e$.$g$.38,548.$

If no entry is required, select $"$No Entry" for the account titles

and enter $0$ for the amounts. Credit account titles are

automatically indented when amount is entered. Do not indent

manually.$)$ Date Account Titles and Explanation Debit Credit January

$1,2017$ Prepare a schedule of interest expense and bond

amortization for $20172019.($Round answer to $0$ decimal places, e$.$g$.$

$38,548.)$ Schedule of Interest Expense and Bond Premium Amortization

Effective$-$Interest Method Date Cash Paid Interest Expense Premium

Amortized Carrying Amount of Bonds $1/1/17$ $ $ $ $ $12/31/1712/31/18$

$12/31/19$ Prepare the journal entry to record the interest payment

and the amortization for $2017.($Round answer to $0$ decimal places,

e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for the

account titles and enter $0$ for the amounts. Credit account titles

are automatically indented when amount is entered. Do not indent

manually.$)$ Date Account Titles and Explanation Debit Credit

December $31,2017$ Prepare the journal entry to record the interest

payment and the amortization for $2019.($Round answer to $0$ decimal

places, e$.$g$.38,548.$ If no entry is required, select $"$No Entry" for

the account titles and enter $0$ for the amounts. Credit account

titles are automatically indented when amount is entered. Do not

indent manually.$)$ Date Account Titles and Explanation Debit Credit

December $31,2019$