March $1$

Issued $$320,000($face value$)8\%$ bonds for $$348,864,$ including accrued interest. Interest is payable semi$-$annually on December $1$ and June $1$ with the bonds maturing $10$ years from the previous December $1.$ The bonds are callable at $104.$

June $1$

Paid semi$-$annual interest on the bonds. Use straight$-$line amortization for any premium or discount.

December $1$

Paid semi$-$annual interest on the bonds, and then purchased $$160,000$ face value bonds at the call price in accordance with the provisions of the bond indenture.

Prepare the necessary journal entries to record the above transactions relating to the long$-$term issuance of bonds by Splish Brothers Corp. The journal entries to be done are dated: March $1,$ June $1,$ December $1.$ The December $1$ journal entry is two parts: recording payment of interest and recording gain on redemption.

NOTE: the accounts "Premium on Bond Payable" and "Discount on Bond Payable" are not available for this question. Available accounts include: interest expense, interest payable, bonds payable, and cash.

$($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order

presented in the problem. Do not round intermediate calculations. Round answers to $0$ decimal places, e$.$g$.5,275.)$