*Problem 10-4A (Part Level Submission) Asquith Electric sold S540,000, 15%, 10-year bonds on January 1, 2015. The bonds were dated January 1 and paid interest on January 1 and July 1, The bonds were sold at 104. Your answer is correct. Prepare the joumal entry to record the issuance of the bonds on lanuary 1, 2015. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 1616001 an. 1, 201 onds Payabl 4000 Premium on Bonds Payabl 160 Attempts: 3 of 5 used Your answer is partially correct. Try again. At December 31, 2015, the balance in the Premium on Bonds Payable account is $19,440. Show the balance sheet presentation of accrued interest and the bond liability at December 31, 2015. (For Bonds Payable, Notes Payable and Mortgage payable enter the account name only and do not provide any additional descriptive information e due 2024') Asquith Electric Balance Sheet December 31, 2015 urrent Liabili 81000 nterest Payabl -term Liabilitie 4000 nds Payabl emium on Bonds Payab 0 1914D $55944 Attempts: 5 of 5 used On January 1, 2017, when the carrying value of the bonds was $557,280, the company redeemed the bonds at 105. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation lan. 1, 2017 Debit Credit Account Titles and Explanatlon Debit Credt Date an. 1, 201 Bonds Payabl 1000 Premium on Bonds Payable Attempts: 3 of 5 used Your answer is partially correct. Try again. At December 31, 2015, the balance in the Premium on Bonds Payable account is $19,440. Snow the balance sheet presentation of accrued interest and the hond liability at December 31, 2015. (For Bonds Payable, Notes Payable and Mortgage payable enter the account name only and do not provide any additlonal descriptive Information e.g. due 2024.) Asquith Electric Balance Sheet December 31, 2015 Currentabiliti unterest Payable 81000 term Llabilitie Bonds Payable 4000D emium on Bonds Payab 9440 55944 Attempts: 5 of 5 used On January 1, 2017, when the carrying value of the bonds was557,280, the company redeemed the bonds at 105. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Attempts: 0 of 5 used