Kingbird Co. sells $ 440,000 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 8%. On October 1, 2021, Kingbird buys back $ 132,000 worth of bonds for $ 137,000 (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 0 decimal places, e.g. 38,548.)

Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield
Date		Cash Paid		Interest Expense		Premium Amortized		Carrying Amount of Bonds
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

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 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 Account Titles and Explanation Debit Credit 6/1/20 12/1/20 12/31/20 6/1/21 10/1/21 (To record interest expense and premium amortization) iter est experise and tu 10/1/21 (To record buy back of bonds) 12/1/21 12/31/21 6/1/22 12/1/22