So I need a little help, I've already done some of this. I got a little confused.

Asquith Electric sold $538,000, 14%, 10-year bonds on January 1, 2014. The bonds were dated January 1 and paid interest on January 1 and July 1. The bonds were sold at 101.

so that's already good to go, now here's the next part.

At December 31, 2014, the balance in the Premium on Bonds Payable account is $4,842. Show the balance sheet presentation of accrued interest and the bond liability at December 31, 2014. (For Bonds Payable, Notes Payable and Mortgage payable enter the account name only and do not provide any additional descriptive information e.g. due 2024.)

Now here is the last part that I completely bombed on.

On January 1, 2016, when the carrying value of the bonds was $542,304, the company redeemed the bonds at 102. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Also, here is a list of accounts for you guys to reference

Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Allowance for Doubtful Accounts Bad Debts Expense Bonds Payable Buildings Cash Cash Dividends Common Stock Cost of Goods Sold Depreciation Expense Discount on Bonds Payable Dividends Payable Equipment Gain on Bond Redemption Interest Expense Interest Payable Inventory Land Lease Liability Leased Asset-Building Leased Asset-Equipment Loss on Bond Redemption Mortgage Payable Notes Payable Other Operating Expenses Paid-in Capital in Excess of Par-Common Stock Paid-in Capital in Excess of Par-Preferred Stock Preferred Stock Premium on Bonds Payable Rent Expense Rent Revenue Retained Earnings Salaries and Wages Expense Salaries and Wages Payable Sales Revenue Share Premium

Prepare the journal entry to record the issuance of the bonds on January 1, 2014. At December 31, 2014, the balance in the Premium on Bond payable account is $4,842. Show the balance sheet presentation of a