Cherney Electric sold $50000010% 10-year bonds on January 1 2012. The bonds were

Cherney Electric sold $50000010% 10-year bonds on January 1 2012. The bonds were dated January 1 and paid interest on January 1 and July 1. The bonds were sold at104.(a) Prepare the journal entry to record the issuance of the bonds on January 1 2012. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)(b) At December 31 2012 the balance in the Premium on Bonds Payable account is $18000. Show the balance sheet presentation of accrued interest and the bond liability at December 31 2012. (For Bonds Payable Notes Payable and Mortgage payable enter the account name only and do not provide any additional descriptive information e.g. due 2017.)(c) On January 1 2014 when the carrying value of the bonds was $516000 the company redeemed the bonds at105. Record the redemption of the bonds assuming that interest for the period has already been paid. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)