a2 only

Concord Corporation issued $493,500 of 5 -year, 5% bonds at 98 on January 1, 2022. The bonds pay interest annually. (a1) Your answer is correct. Prepare the journal entry to record the issuance of the bonds. (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 ofor the amounts.) (a2) - Your answer is incorrect. Compute the total cost of borrowing for these bonds. Total cost of borrowing $