Problem 15-6A Paris Electric sold $3,000,000, 12%, 10-year bonds on January 1, 2017. The bonds were dated January 1 and pay interest annually on January 1. Paris Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Link to Text Link to Text Prepare a bond premium amortization schedule for the first 4 interest periods. Annual Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized Premium Bond Carrying Value Issue date $ $ 1 $ $ $ 2 3 4 Link to Text Link to Text Prepare the journal entries for interest and the amortization of the premium in 2017 and 2018. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2017 Dec. 31, 2018 Link to Text Link to Text Show the balance sheet presentation of the bond liability at December 31, 2018. (Enter account name only and do not provide descriptive information.) Paris Electric Balance Sheet (Partial) $ $ :