Presented below are selected transactions on the books of Simonson Corporation.
May 1, 2010 - Bonds payable with a par value of $900,000, which are dated January 1, 2010, are sold at 106 plus accrued interest. They are coupon bonds, bear interest at 12% , and mature January 1, 2020.
Dec 31 - Adjusting entries are made to record the accrued interest on the bonds, and the amortization of the proper amount of premium.
Jan. 1, 2011 - Interest on the bonds is paid.
April 1 - Bonds of par value of $360,000 are called at 102 plus accrued interest, and retired.
Dec 31 - Adjusting entries are made to record the accrued interest on the bonds, and the proper amount of premium amortized.
Instructions: Prepare the journal entries for the transactions above.