On June 30, 2017, Swifty Company issued $4,700,000 face value of 13%, 20-year bonds at $5,053,579, a yield of 12%. Swifty uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.

Prepare the journal entries to record the following transactions. (Round answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

(1)		The issuance of the bonds on June 30, 2017.
(2)		The payment of interest and the amortization of the premium on December 31, 2017.
(3)		The payment of interest and the amortization of the premium on June 30, 2018.
(4)		The payment of interest and the amortization of the premium on December 31, 2018.

Debit Credit No. Date (1) June 30, 2017 Account Titles and Explanation Cash 053579 | Premium on Bonds Payable 353579 Bonds Payable 4700000 (2) December 31, 2017 Interest Expense Premium on Bonds Payable Cash (3) June 30, 2018 Interest Expense XXXXX Premium on Bonds Payable Cash (4) December 31, 2018 Interest Expense Premium on Bonds Payable Cash Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2018, balance sheet. (Round answers to O decimal places, e.g. 38,548.) Swifty Company Balance Sheet