On January 1, 2020, Sage Company sold 11% bonds having a maturity value of $500,000 for $559,889, which provides the bondholders with a 8% yield. The bonds are dated January 1, 2020, and mature January 1, 2025, with interest payable December 31 of each year. Sage Company allocates interest and unamortized discount or premium on the effective interest basis. (a) Your answer is correct. Prepare the journal entry at the date of the bond issuance. (Round answer to 0 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 January 1, 2020 Cash 559,889 Bonds Payable 500,000 Premium on Bonds Payable 59,889 (b) Your answer is correct. Prepare a schedule of interest expense and bond amortization for 2020-2022. (Round answer to 0 decimal places, eg. 38,548.) Schedule of Interest Expense and Bond Premium Ar Acceptable correct answers also Effective-Interest Method include: Interest o Expense Cash Paid rying t of Bonds $ i $ 559,889 55,000 44,791 10,209 549,680 55,000 43,974 11,026 538,655 55,000 43,092 11,908 526,747 (c) Your answer is correct. Prepare the journal entry to record the interest payment and the amortization for 2020. (Round answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter Ofor 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 Interest Expense 44,791 Premium on Bonds Payable 10,209 Cash 55,000 (d) Prepare the journal entry to record the interest payment and the amortization for 2022. (Round answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O 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, 2022