On January 1, 2021, Bradley Corporation sold $600,000 of 8% bonds at $648,000. The bonds are due on

January 1, 2026 and pay interest semiannually every July 1 and January 1. The bonds were sold to

yield a 6% effective rate. Bradley closes its books annually on December 31.

Required:

(a) Prepare the general journal entry to record the sale of the bonds.

(b) Prepare the general journal entry to record the interest payment on July 1, 2021, assuming that

Bradley uses the straight-line method to amortize the bond premium.

(c) Prepare the general journal entry to record the interest accrual on December 31, 2021, assuming

that Bradley uses the straight-line method to amortize the bond premium.