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  3. king bird, inc. sold $3,050,000, 7%, 10-year bonds

King bird, Inc. sold $3,050,000, 7%, 10-year bonds on January 1 2019 The bonds were...

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Accounting

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King bird, Inc. sold $3,050,000, 7%, 10-year bonds on January 1 2019 The bonds were dat to amortize bond premium or discount. January 1 2019, and it est annual anuary K d in the straight-line method Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2019, assuming that the bonds are sold at 104. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Cash Premium on Bonds Payable Bonds Payable Jan. 1, 2019 Dec. 31, 2019 Interest Expense Discount on Bonds Payable Interest Payable Click if you would like to Show Work for this question: Open Show Work

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