Sanford Co. sells $515,500 of 8% bonds on March 1, 2014. The bonds pay interest on September 1 and March 1. The due date of the bonds is September 1, 2017. The bonds yield 12%. Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.) Titania Co. sells $403,900 of 12% bonds on June 1, 2014. The bonds pay interest on December 1 and June 1. The due date of the bonds is June 1, 2018. The bonds yield 8%. On October 1, 2015, Titania buys back $130,600 worth of bonds for $137,510 (includes accrued interest). Prepare a bond amortization schedule using the effective-interest method for discount and premium amortization. Amortize premium or discount on interest dates and at year-end. (Round answers to 0 decimal places, e.g. 38,548.)

Question 3 In each of the following independent cases the company closes its books on December 31. Sanford Co. sells $515,500 of 8% bonds on March 1, 2014. The bonds pay interest on September 1. The due date of the bonds is September 1, 2017. The bonds yield Prepare a bond amortization schedule using the effectiveinterest method for discount and premiu amortization. Amortize premium or discount on interest dates and at yearend. places, e.g. 38,548.) Schedule of Bond Discount Amortization EffectiveInterest Method Bonds Sold to Yield Date 3/1/14 9/1/14 3/1/15 9/1/15 3/1/16 9/1/16 3/1/17 9/1/17 Cash Paid Interest Expense $ Prepare all of the relevant journal entries from the time of sale until the date indicated. (Assume t reversing entries were made.) (Round answers to 0 decimal places, e.g. 38,548. If no entry is select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles a automatically indented when amount is entered. Do not indent manually.) Date 3/1/14 9/1/14 Account Titles and Explanation 12/31/14 3/1/15 9/1/15 12/31/15 SHOW LIST OF ACCOUNTS LINK TO TEXT Titania Co. sells $403,900 of 12% bonds on June 1, 2014. The bonds pay inte The due date of the bonds is June 1, 2018. The bonds yield $130,600 worth of bonds for $137,510 (includes accrued interest). Prepare a bond amortization schedule using the effectiveinterest method for amortization. Amortize premium or discount on interest dates and at yearend places, e.g. 38,548.) Schedule of Bond Discount Amortization EffectiveInterest Method Bonds Sold to Yield Cash Paid Date 6/1/14 12/1/14 6/1/15 12/1/15 6/1/16 12/1/16 6/1/17 12/1/17 6/1/18 Interest Expense $ Discount Amortized $ * Difference due to rounding Prepare all of the relevant journal entries from the time of sale until the date in December 1, 2016. (Assume that no reversing entries were made.) decimal place, e.g. 38.5 and final answers to 0 decimal places, e.g. 38,54 "No Entry" for the account titles and enter 0 for the amounts. Credit acc indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation 6/1/14 12/1/14 12/31/14 6/1/15 10/1/15 (To record interest expense and premium amortization) 10/1/15 (To record buy back of bonds) 12/1/15 12/31/15 6/1/16 12/1/16 Click if you would like to Show Work for this Open Show Work