Question: Please help. I am not sure if I solved the first portion correctly and I am having trouble solving the rest. Problem 15-05A a-d Cullumber

Please help. I am not sure if I solved the first portion correctly and I am having trouble solving the rest.

Please help. I am not sure if I solved the first portioncorrectly and I am having trouble solving the rest. Problem 15-05A a-dCullumber Electric sold $3,950,000, 12%, 10-year bonds on January 1, 2020. The

Problem 15-05A a-d Cullumber Electric sold $3,950,000, 12%, 10-year bonds on January 1, 2020. The bonds were dated January 1 and pay interest annually on January 1. Cullumber Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 101. Prepare the journal entry to record the issuance of the bonds on January 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2020 Cash 3,750,000 Discount on Bonds Payable 200,000 Bonds Payable 3,950,000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare a bond premium amortization schedule for the first 4 interest periods. Annual Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium Amortization Unamortized Premium Bond Carrying Value Issue date NM SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Prepare the journal entries for interest and the amortization of the premium in 2020 and 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Show the balance sheet presentation of the bond liability at December 31, 2021. (Enter account name only and do not provide descriptive information.) Cullumber Electric Balance Sheet (Partial) Click if you would like to Show Work for this question: Open Show Work

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