1.53/2 II Your answer is partially correct. On January 1, 2020. Carla Corporation issued $480,000 of 7% bonds, due in 10 years. The bonds were issued for $447,385, and pay interest each July 1 and January 1 Carla uses the effective-interest method. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%. (Round intermediate calculations to 6 decimal places, eg 1.251247 and final answer to decimal places, eg.38,548. If no entry is required, select "No Entry for the account titles and enter for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit 1.2020 Cash 447385 Discount on Bonds Payable 32615 Bonds Payable 480,000 1. 2020 Interest Expense 35,791 ... Question 4 of 12 1.53/2 E 1.1.2020 Cash 447385 Discount on Bonds Payable 32615 Bands Payable 480,000 1.2020 Interest Expense 35.791 Discount on Bonds Payable 12191 Cash 33,600 31, 2020 Interest Expense 35616 Discount on Bonds Payable 2016 Cash 33600 e Textbook and Media