PLEASE HELP ME IN ANSWERING PART C

Problem 10-8A (Part Level Submission) Pina Corporation sold $2,160,000, 8%, 5-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and pay interest on January 1 . Pina Corporation uses the straight-line method to amortize bond premium or discount. (a) Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 102. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 2203200 Premium on Bonds Payable 43200 Bonds Payable 2160000 Dec. 31 Interest Expense 164160 Premium on Bonds Payable 8640 Interest Payable 172800 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT LINK TO TEXT Attempts: 1 of 2 used (b) Your answer is correct. Prepare journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at98. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 2116800 Discount on Bonds Payable 43200 Bonds Payable 2160000 Dec. 31 Interest Expense 181440 Discount on Bonds Payable 8640 Interest Payable 172800 SHOW SOLUTION SHOW ANSWER Attempts: 1 of 2 used Your answer is partially correct. Try again. (1) Show the balance sheet presentation for the bond issue at December 31, 2017, using the 102 selling price PINA CORPORATION Balance Sheet (Partial) December 31, 2017 Current Liabilities Interest Payable Long-term Liabilities Bonds Payable 172800 2160000 Add 43200 2203200 Premium on Bonds Payable (2) Show the balance sheet presentation for the bond issue at December 31, 2017, using the 98 selling price PINA CORPORATION Balance Sheet (Partial) December 31, 2017 Current Liabilities Interest Payable 172800 Long-term Liabilities Bonds Payable 2160000 LessM 43200 2116800 Discount on Bonds Payable SHOW LIST OF ACCOUNTS