show steps

Current Attempt in Progress Presented below are selected transactions on the books of Bramble Corporation May 1.2020 Bands payable with a par value of S964,800, which are dated January 1, 2020, are sold at 107 plus accrued Interest. They are coupon bonds, bear interest at 13% (payable annually at January 11, and mature January 1. 2030. (Use interest expense account for accrued interest) Dec. 31 Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium. (Use straight-line amortization) Jan 1.2021 Interest on the bonds is paid. April 1 Bands with par value of $385.920 are called at 102 plus accrued interest, and redeemed. (Bond premium is to be amortized only at the end of each year) Dec 31 Adjusting entries are made to record the scared Interest on the bonds, and the proper amount of premium amortized Prepare journal entries for the transactions above. (Round intermediate calculations to 6 decimal places, eg. 1.251247 and final answers to decimal places, ex 38,548. no entry is recruired, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit May 1 2020 Dec 31, 2020 (To record the interest) (To amortize the premium) v Jan 1.2021 Dec 31, 2020 (To record the interest) (To amortize the premium) Jan 1. 2021 Apr. 1.2021 (To record the interest) (To amortize the premium)