Accounting help with bonds and liability?

Soprano Electric sold $3,310,000, 10%, 10-year bonds on January 1, 2008. The bonds were dated January 1 and pay interest July 1 and January 1. Soprano Electric uses the straight-line method to amortize bond premium or discount. The bonds were sold at 103. Assume no interest is accrued on June 30. Correct. Prepare the journal entry to record the issuance of the bonds on January 1, 2008. (List multiple debit/credit entries in order of magnitude.) DateAccount / DescriptionDebitCredit Jan. 1Cash$ 3,409,300 Bonds payable $ 3,310,000 Premium on bonds payable $ 99,300 Incorrect. Prepare a bond premium amortization schedule for the first 4 interest periods. Semiannual Interest Periods Interest to Be Paid Interest Expense to Be Recorded Premium/Discount Amortization Unamortized Premium/Discount Bond Carrying Value Issue Date 99,300 3,409,300 1 2 3 4 can some one plz help me out with this i have no idea how to solve the second part thank you

7 months ago - 1 answers