Wempe Co. sold $3,000,000,8%,10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually.

Wempe Co. sold $3,000,000, 8%, 10-year bonds on January 1, 2014. The bonds were dated January 1, 2014, and pay interest on January 1. The company uses straight-line amortization on bond premiums and discounts. Financial statements are prepared annually. Don't show me this message again for the assignment 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.) Don't show me this message again for the assignment Show List of Accounts Link to Text Prepare amortization tables for issuance of the bonds sold at 103 for the first three interest payments. Annual Interest Periods Interest to Be Paid $ Issue date Interest Expense to Be Recorded $ Premium Amortizatio n $ Unamortize d Premium Bond Carrying Value $ $ 1 2 3 Prepare amortization tables for issuance of the bonds sold at 98 for the first three interest payments. Annual Interest Periods Interest to Be Paid $ Issue date 1 Interest Expense to Be Recorded $ Premium Amortizatio n $ Unamortize d Premium $ Bond Carrying Value $ 2 3 Don't show me this message again for the assignment Show List of Accounts Link to Text Prepare the journal entries to record interest expense for 2014 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.) Don't show me this message again for the assignment Show List of Accounts Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 103 at December 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 $ $ : Show the long-term liabilities balance sheet presentation for issuance of the bonds sold at 98 at December 31, 2014. WEMPE Co. Balance Sheet (Partial) December 31, 2014 $ $