P15-6A

P15-6A Pa bonds were dated the straight-line method at 104 ris Electric sold $3,000,000, 10%, 10-year bonds on January 1, 2017 The January 1 and pay interest annually on January 1. Paris Electric uses method to amortize bond premium or discount. The bonds were sold Instructions la) Prepare the journal entry to record the issuance of the bonds on January 1, 2017 b) Prepare a bond premium amortization schedule for the first 4 interest periods (c) Prepare the journal entries for interest and the amortization of the premium in 2017 and 2018. id) Show the balance sheet presentation of the bond liability at December 31, 2018