Prepare the journal entries that the company's bookkeeper would prepare in 2020, assuming the errors discovered while the 2020 books are still open. Ignore any income taxes. The company uses contra-accounts for any bond discount/premium.

The bonds mature in 5 years, have a face value of $200, 000 and pay a stated interest rate Of 8%. They were issued at a premium of $16,849 on January 1, 2020 to yield an effective interest rate of 6%. Interest is paid annually each December 31. From the correctly prepared amortization schedule, you obtain the following: Amortization Date Interest expense Carrying Value amount 01-Jan-19 216,849 31-Dec-19 13,011 2,989 213,860 31-Dec-20 12,832 3,168 210,692 REQUIRED: Prepare the journal entries that the company's bookkeeper would prepare in 2020, assuming the errors are discovered while the 2020 books are still open. Ignore any income tax effects. The company uses contra-accounts for any bond discount/premium. Date Account Title Debit Credit Jan. 1/20 Past Dec. 31/20 Current