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$(8)$P$13\mathrm{.}5($LO$.1.2)$ Excel $($Comprehensive Bond Problem$)$ In each of the following independent cases, the company closes its books on December $31.$

Sanford Co$.$ sells $$500,000$ of $10\%$ bonds on March $1,2025.$ The bonds pay interest on September $1$ and March $1.$ The due date of the bonds is September $1,2028.$ The bonds yield $12\%.$ Glve entries through December $31,2026.$

Titania Co$.$ sells $$400,000$ of $12\%$ bonds on June $1,2025.$ The bonds pay interest on December $1$ and June $1.$ The due date of the bonds is june $1,2029.$ The bonds yield $10\%.$ On October $1,2026,$ Titania buys back $$120,000$ worth of bonds for $$126,000($indudes accrued interest$).$ Give entrles through December $1,2027.$

Instructions

For the two cases prepare all of the relevant journal entriesplam the time of sale until the date indicated. Use the effecthe$-$interest method for discount and premium amortization $($construct amortization tables where applicable$).$ Amortize premium or discount on interest dates and at yearend. $($Assume that no reveralng entries were made.$)$