I only need help with the answers in RED that were incorrect.

Problem 15-05A a-d

Paris Electric sold $3,000,000, 10%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Paris Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 104.

Cash - DBT 3,120,000

Bonds Payable - CR - 3,000,000

Premium on Bonds Payable CR- 120,000

Premium on Bonds Payable 120000 SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare a bond premium amortization schedule for the first 4 interest periods. Annual Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized Premium Bond Carrying Value Issue date 120000 3120000 M 1 300000 180000 12000 108000 3108000 2 300000 180000 12000 96000 3096000 3 300000 180000 12000 84000 3084000 4 300000 180000 12000 72000 3072000 LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare the journal entries for interest and the amortization of the premium in 2020 and 2021. (Credit account titles 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 Dec. 31, 2020 Interest Expense 36000 Premium on Bonds Payable 120000 Interest Payable 60000 Dec. 31, 2021 Interest Expense 180000 Premium on Bonds Payable 12000 Interest Payable 96000 TON TOTEUT IT TO TEYT