asdCurrent Attempt in ProgressAssignment $1$

Question $9$ of $10$

$\frac{-}{10}$

Date

Account Titles and Explanation

Debit

Credit

$966782\mathrm{.}40$

Bonds Payable

$861600$

Premium on Bonds Payable

Dec. $31,2022,v$

Interest Expense

Interest Expense

$($To record the interest$)$

Premium on Bonds Payable

$($To amortize the premium$)$

Jan. $1,2023$

Interest Payable

Presented below are selected transactions on the books of Sandhill Foundry.

July $1,2022$ Bonds payable with a par value of $861,600,$ which are dated January $1,2022,$ are sold at $112\mathrm{.}290$ plus accrued

interest to yield $10\%.$ They are coupon bonds, bear interest at $12\%($payable annually at January $1),$ and mature

January $1,2032.($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.

Jan. $1,2023$ Interest on the bonds is paid.

Jan. $2$ Bonds of par value of $344,640$ are called at $102$ and extinguished.

Dec. $31$ Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium

amortized.

Prepare journal entries for the transactions above. $($Round intermediate calculations to $5$ decimal places, e$.$g$.1\mathrm{.}25247$ and final answers to

$2$ decimal places, e$.$g$.38,548\mathrm{.}37.$ If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Credit account titles

are automatically indented when amount is entered. Do not indent manually.$)$