P10-8A Accounting. Prepare Journal entries to record issuance of bonds, interest, and straight-line amortization, and balance sheet presentation.

re journal entries to record issuance of bon tere straight-line and balance sheet presentation. YungCorporation sold bonds were dated January 1, 2014, and pay interest on January 1. Yung Corporation uses the straight-line method to amortize bond -L 52,000,000 -J year bonds on January 1, 2014. The premium or discount. istructions: (a) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2014, assuming that the bonds sold at 102 an Account title Amount Account title Account title Amount Amount Dec 31 Account title Account title Amount Amount Account title Amount 97 (b) Prepare joumal entries as in part (2) (b) Prepare journal entries as in part (a) assuming that the bonds sold at Account title Account title Amount Amount Account title Amount Dec 31 Account title Amount Account title Account title Amount Amount (c) Show the balance sheet presentation for the bond issue at December 31, 2014, using (1) the 102 selling price Current Liabilities Account title Amount Long-term Liabilities Account title Account title Amount Amount Formula