Concord Corporation sold $2,120,000, 6%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Concord Corporation uses the straight-line method to amortize bond premium or discount. (a) Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 104. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit 1, 2022 Cash 2204800 Bonds Payable 2120000 Premium on Bonds Payable 84800 :. 31, 2022 Interest Expense 110240 Premium on Bonds Payable 16960 Interest Payable 127200 Your answer is correct. Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 95. (Credit account titles are automatically indented when 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.) Date Account Titles and Explanation Debit Credit 1. 1, 2022 Cash 2014000 Discount on Bonds Payable 106000 Bonds Payable 2120000 31, 2022 Interest Expense 148400 Discount on Bonds Payable 21200 Interest Payable 127200 Your answer is partially correct. Show the balance sheet presentation for the bond issue at December 31, 2022, using (1) the 104 selling price, and then (2) the 95 selling price. (Enter account name only and do not provide descriptive information.) Concord Corporation Balance Sheet December 31, 2022 Liabilities ist Payable $ 127200 m Liabilities Payable $ 2120000 Premium on Bonds Payable $ Concord Corporation Balance Sheet December 31, 2022 Discount Current Liabilities Interest Payable $ 12 Long-term Liabilities Bonds Payable $ 2120000 Less : Discount on Bonds Payable $

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