Using a Premium Amortization Table (Straight Line) Instructions Chart Of Accounts Labels and Amount Descriptions General Journal Middle Question Balance Sheet Instructions For Dingle Corporation, the following amortization table was prepared when $400,000 of 5-year, 6% bonds were sold on January 1, 2020, for $439,000 Balance Sheet Cash Payment (Credit) Interest Expense (Debit) Premium on Bonds Payable (Debit) Premium on Bonds Payable Balance Period Carrying Value At issue $39,000 $439,000 4. Indicate how these bonds will appear in Dingle's December 31, 2023 balance sheet. 06/30/20 $12,000 $3,900 35,100 435,100 12/31/20 $8,100 8,100 8,100 12,000 12,000 431,200 Balance Sheet Instructions 06/30/21 3,900 3,900 3,900 427,300 31,200 27,300 23,400 19,500 12/31/21 8,100 423,400 12,000 12,000 06/30/22 3,900 419,500 12/31/22 8,100 8,100 8,100 3,900 15,600 12,000 12,000 12,000 415,600 Dingle Corporation Balance Sheet (Partial) December 31, 2023 11,700 411,700 8,100 3,900 3,900 3,900 7,800 06/30/23 12/31/23 06/30/24 12/31/24 407,800 1 (Label) 12,000 3,900 403,900 8,100 8,100 12,000 3,900 400,000 Using a Premium Amortization Table (Straight Line) Instructions Chart Of Accounts Labels and Amount Descriptions General Journal Middle Question Balance Sheet General Journal Middle Question 1. Prepare the entry to recognize the issuance of the bonds on January 1, 2020. 3. Determine what interest expense for this bond PAGE 1 issue Dingle will report in its 2021 income statement. GENERAL JOURNAL IMPACT ON FINANCIAL STATEMENTS BALANCE SHEET INCOME STATEMENT Interest Expense S DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE EXPENSES NET INCOME 2. Prepare the entry to recognize the first interest payment on June 30, 2020. PAGE 1 IMPACT ON FINANCIAL STATEMENTS GENERAL JOURNAL BALANCE SHEET INCOME STATEMENT DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE EXPENSES NET INCOME