nment Problem 15-8A (Part Level Submission) The following is taken from the Colaw Company balance sheet. COLAW COMPANY Balance Sheet (partial) December 31, 2017 Current Liabilities Interest payable (for 12 months from January 1 to December 31) $256,800 Part on) Long-term Liabilities Bonds payable, 8% due January 1, 2028 Add: Premium on bonds payable $3,210,000 A.(Part sion) 209,000 $3,419,000 4A.(Part ission) -SA 5-BA (Part reission 15-9A(Part bmission) n15-10A cvel ssion) Exercse 16/A cise 174 rcise 177 rcise 181 Interest is payable annually on January 1. The bonds are callable on any annual interest date. Colaw uses sa outstanding for an additional 10 years (120 months). (a) Your answer is correct. Journalize the payment of bond interest on January 1, 2018. (Credit account titles are automatically inden- Date Account Titles and Explanation Debit Credit Jan. 1, 2018 Interest Payable 256800 sise 182 Cash Exeruse 189 (Part evelSubeson) 256800) erse hoceme hacy hcy 1 2000 2019 Jobn wiey .SonsInc. All aghts Reserved. A Division of John witey & Sons. Ioc O ype here to seardh 4- t+ 144 # ractice Assignment Gradebook Downloadable eTextbook ORION signment (b) Your answer is partially correct. Try again Prepare the entry to amortize bond premium and to accrue the interest due on December 31, 2018. (Credit account titles an (Part ion) Account Titles and Explanation Date Debit Credit Dec. 31, 2018 Interest Expense 246350 -17 (Part ission) 1A 15-3A (Part bmission) 15-4A (Part ubmission) 15 5A m 15-8A (Par Subision, m 15-5A (art Premium on Bonds Payable 10450 Cash 256800 iem 15-10A xtLeve (c) The parts of this question must be completed in order, Thes part wiW be available wfen you coaplere the part above Coeccise 174 Errone 172 (d) Exerse .at Meret Smo The parts of this question must be completed ay erter The part wi be avaidate whon o complete the part above otent cxhu 2000 201auhnwe Son3 A sights erved A Dvisin or Jubn wea.Sona tn O oe hene to search ese & 3 4 6 W R T Y A D G K 7 (5 LL S