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kindly assist with the following question. thank you! Presented below are selected transactions on the books of Buffalo Corporation. May 1, 2020 Bonds payabli with

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Presented below are selected transactions on the books of Buffalo Corporation. May 1, 2020 Bonds payabli with a par value of $964,800, which are dated January 1, 2020, are sold at 107 plus accrued interest. They are coupon bonds, bear interest at 13\% (payable annually at January 1), and mature January 1, 2030. (Use interest expense account for accrued interest.) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. (Use straight-line amortization.) Jan.1,2021 Interest on the bonds is paid. April 1 Bonds with par value of $385,920 are called at 102 plus accrued interest, and redeemed. (Bond premium is to be amortized only at the end of each year.) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized. Prepare journal entries for the transactions above. (Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answers 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.) (To amortize the premium) Interest Payable Cash 1,2021 Bonds Payable 361500 Premium on Bonds Payable Interest Expense Gain on Redemption of Bonds Cash ec. 31,2021= Interest Expense Interest Payable (To record the interest) Premum on Bonds Payable Interest Expense

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