On June 30.2020. Whispering Company issued $5.770.000 face value of 14%, 20-year bonds at 56,638.160. a yield of 12%. Whispering uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31 Your answer has been saved. See score details after the due date. Prepare the journal entries to record the following transactions. (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.) The issuance of the bonds on June 30.2020. (2) The payment of interest and the amortization of the premium on December 31, 2020. (3) The payment of interest and the amortization of the premium on June 30, 2021 (4) The payment of interest and the amortization of the premium on December 31, 2021. No. Account Titles and Explanation Debit Credit Date June 30. 2020 Cash 6,638,160 Premium on Bonds Payable Bonds Payable (2) December 31, 2020 Interest Expense 398290 Premium on Bonds Payable 5610 Cash (3) June 30, 2021 Interest Expense 397953 Premium on Bonds Payable 5947 Cash December 31, 2021 Interest Expense 397596 Premium on Bonds Payable 6304 Cash Attempts: 1 of 1 used (b) Show the proper balance sheet presentation for the liability for bonds payable on the December 31, 2021, balance sheet. (Round answers to decimal places, eg. 38,548.) Whispering Company Balance Sheet December 31, 2021 Long-term Liabilitles Bonds Payable $ 5,770,000 Premium on Bonds Payable Book Value of Bonds Payable $ Attempts: 0 of 1 used Submit Answer Save for Later Last saved 20 seconds ago. Saved work will be auto-submitted on the due date