Problem 10-3A On May 1, 2019, Cheyenne Corp. issued $585,000, 7%, 5-year bonds at face value. The bonds were dated May 1, 2019, and pay interest annually on May 1. Financial statements are prepared annually on December 31. Show the balance sheet presentation on December 31, 2019. (Enter account name only and do not provide descriptive information.) Cheyenne Corp. Balance Sheet December 31, 2019 Current Liabilities Notes Payable Total Long-term Investments SHOW LIST OF ACCOUNTS Prepare the journal entry to record payment of interest on May 1, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation May 1, 2020 Prepare the adjusting entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Dec. 31, 2020 SHOW LIST OF ACCOUNTS Assume that on January 1, 2021, Cheyenne pays the accrued bond interest and calls the bonds at 105. Record the payment of interest and redemption of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2021 (To record payment of interest) Jan. 1, 2021 (To record redemption of bonds) Problem 10-9A Blossom Company sold $4,100,000, 5%, 10-year bonds on January 1, 2019. The bonds were dated January 1 and pay interest annually on January 1. Blossom Company uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 Interest Expense Premium on Bonds Payable Interest Payable SHOW LIST OF ACCOUNTS 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 SHOW LIST OF ACCOUNTS Prepare the journal entries for interest and the amortization of the premium in 2019 and 2020. (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 Dec. 31, 2019 Prepare the journal entries for interest and the amortization of the premium in 2019 and 2020. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Dec. 31, 2019 Dec. 31, 2020 SHOW LIST OF ACCOUNTS Show the balance sheet presentation of the bond liability at December 31, 2020. (Enter account name only and do not provide descriptive information.) Blossom Company Balance Sheet December 31, 2020 SHOW LIST OF ACCOUNTS