On January 1, 2020, Novak Company sold 12% bonds having a maturity value of $650,000 for $699,280, which provides the bondholders with a 10% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Novak Company allocates interest and unamortized discount or premium on the effective-interest basis. (a) Your answer has been saved. See score details after the due date. Prepare the journal entry at the date of the bond issuance. (Round answer to decimal places, eg. 38,548. 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 January 1, 2020 Cash 699280 Premium on Bonds Payable 49280 Bonds Payable 650000 Attempts: 1 of 1 used (b) Your answer has been saved. See score details after the due date. Prepare a schedule of interest expense and bond amortization for 2020-2022. (Round answer to O decimal places, e.g. 38,548.) Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method Prepare a schedule of interest expense and bond amortization for 2020-2022. (Round answer to 0 decimal places, e.g. 38,548.) Schedule of Interest Expense and Bond Premium Amortization Effective-Interest Method Cash Paid Interest Expense Premium Amortized Carrying Amount of Bonds $ $ $ $ $ 699280 78000 69928 8072 691208 78000 69121 8879 682329 78000 68233 9767 672562 Attempts: 1 of 1 used (c) Prepare the journal entry to record the interest payment and the amortization for 2020. (Round answer to decimal places, e.g. 38,548. 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 December 31, 2020 Question 10 of 12 ... / 10 78000 69928 8072 691208 78000 69121 8879 682329 78000 68233 9767 672562 Attempts: 1 of 1 used (c) Prepare the journal entry to record the interest payment and the amortization for 2020. (Round answer to decimal places, e.g. 38,548. 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 December 31, 2020