On June 30, 2025, Gary King Company issued $5,640,000.00 face value of 14%, 20 year bonds at $6,488,600.00, a yield of 12%. King uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31. Click here to view factor tables a. Prepare the journal entries to record the following transactions. b. Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2026, balance sheet. (Round answers to 2 decimal places, e.g., 38548.25.)