FILL IN PART D

Metlock, Inc. sold $2,800,000, 6%, 10-year bonds on January 1, 2022. The bonds were dated January 1 and pay interest annually on January 1. Metlock, Inc. uses the straight-line method to amortize bond premium or discount. The bonds were sold at 101. (a) V Your answer is correct. 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 Cash 2828000 Premium on Bonds Payable 28000 Bonds Payable 2800000(b) V Your answer is correct. Prepare a bond premium amortization schedule for the first four interest periods. Annual Interest Interest Expense Periods Interest to Be Paid to Be Recorded Premium Amortization Unamortize Issue date $ to 168,000 165,200 $ 2,800 2 168,000 165,200 2,800 3 168,000 165,200 2,800 4 168,000 165,200 2,800\fPrepare the journal entries for interest and the amortization of the premium in 2022 and 2023. (Credit account tities are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit C. 31, 2022 Interest Expense 165200 Premium on Bonds Payable l 2800 | Interest Payable 168000 1, 2023 V Interest Payable 168000 Cash l | 168000 C. 31, 2023 Interest Expense 165200 Premium on Bonds Payable 2800 Interest Payable l | 168000 (d) Show the balance sheet presentation of the bond liability at December 31, 2023. (Enter account name only and do not provide descriptive information.) Metlock, Inc. Balance Sheet V to V to to