Your answer is partially correct. Try again Bridgeport Co. sells $365,000 of 12% bonds on June 1, 2017, The bonds pay interest on December 1 and June 1, The due date of the bonds is June 1, 2021, The bonds yield 10%. On October 1, 2018, Bridgeport buys back $120,450 worth of bonds for $127,450 (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.) Schedule of Bond Discount Amortization Effective-Interest Method Bonds Sold to Yield Carrying Cash Interest Discount Amount of Date Paid Expense Amortized Bonds 12/1/17 1,90 6/1/18 T21,90 12/1/18 T21,90 6/1/19 21,90 12/1/19 T21,900 6/1/20 21,90 12/1/20 T21,90 6/1/2 21,900 9,430 9,30 9,17 9,040 8,897 8,74 8,589 $388,591 386,121 83,52 80,803 77,943 74,940 71,78 68,47 47 59 724 86 15 311 47 18,424T3,476T365,000 65,000 * Difference due to rounding Prepare all of the relevant journal entries from the time of sale until the date indicated. Give entries through December 1, 2019. (Assume that no reversing entries were made.) (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to o decimal places e.g. 58,971. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit /1/17 Cash 388,591 remium on Bonds Payable 3,591 onds Payable Lzilyl Interest Expens 9,430 remium on Bonds Payable as 1,900 12/31/17 Interest Expens remium on Bonds Payable nterest Payable 65 6/1/18 Interest Expens 6,088 nterest Payable 65 remium on Bonds Payable as 1,900 10/1/18 TInterest Expense 3,173 remium on Bonds Payable 477 Interest Payable 3,650 (To record interest expense and premium amortization) 10/1/18 (To record buy back of bonds) z//81 12/1/18 12/1/19 Question Attempts: 2 of 4 used