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Bridgeport Corporation sold $2,250,000, 7%, 5-year bonds on January 1, 2022. The bonds were dated...

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Accounting

Bridgeport Corporation sold $2,250,000, 7%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Bridgeport Corporation uses the straight-line method to amortize bond premium or discount.

(1) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 102 selling price. (2) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 96 selling price.

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