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Shamrock Ltd. sold Rs2,844,000, 9%, 10-year bonds on January 1, 2017. The bonds were dated...

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Shamrock Ltd. sold Rs2,844,000, 9%, 10-year bonds on January 1, 2017. The bonds were dated January 1, 2017, and pay interest annually on January 1. Shamrock Company uses the straight line method to amortize bond premium or discount. Assume the country allows the use of straight line amortization for bond premiums and discounts (a) (b) (a) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 104. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2017 Cash 2929320 Bonds Payable 2929320 Dec 31, 2017 Interest Expense Bonds Payable Interest Payable (6) Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2017, assuming that the bonds sold at 98. (Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2017 Dec 31, 2017

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