Saylor Co. sold $3,000,000, 8 % , 10-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annly Your answer is partially correct Prepare the journal entries to record the issuance of the bonds assuming they sold at: (1) 103 and (2) 98. (Credit account titles are automatically indented when amount is entered. Do not indent manually) No. Date Account Titles and Explanation Debit Credit 1/1/22 1. Cash 294000 Discount on Bonds Payable 60000 Bonds Payable 300000 2. 1/1/22 Interest Expense 246000 Discount on Bonds Payable 6000 Interest Payable 240000 Prepare amortization table for issuance of the bonds sold at 103 for the first three interest payments Annual Interest Expense Interest Interest to Premium Unamortized Bond Periods Be Paid to Be Recorded Amortization Premium Carrying Value $ $ Issue date $ 1 2 3 Prepare amortization table for issuance of the bonds sold at 98 for the first three interest payments. Annual Interest Expense Interest Interest to Discount Unamortized Bond Periods Be Paid to Be Recorded Amortization Discount Carrying Value $ $ $ $ $ Issue date 1 2. Prepare the journal entries to record interest expense for 2022 under both of the bond issuances assuming they sold at: (1) 103 and (2) 98. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation No. Debit Credit Date 12/31/22 1. Cash 3090000 Bonds Payable 3000000 Premium on Bonds Payable 90000 2. 12/31/22 Cash 2940000 Discount on Bonds Payable 60000 Bonds Payable 3000000 Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 103 at December 31, 2022. SAYLOR CO. Balance Sheet (Partial) Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 98 at December 31, 2022 SAYLOR CO. Balance Sheet (Partial)