Ayayai Corporation sold $3,200,000, 8%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Ayayai Corporation uses the straight-line method to amortize bond premium or discount. - Your answer is partially 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 107. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 4420814 Bonds Payable 4083000 Premium on Bonds Payable 337,814 Dec. 31 Interest Expense 221041 Premium on Bonds Payable 3,524 Cash 224565 Prepare journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 99. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Interest Expense 220864 Premium on Bonds Payable 3,701 Cash 224565 Dec. 31 Interest Expense 220679 Premium on Bonds Payable 3,886 Cash 224565 (1) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 107 selling price. AYAYAI CORPORATION Balance Sheet (Partial) December 31, 2022 $ (2) Show the balance sheet presentation for the bond issue at December 31, 2022, using the 99 selling price. AYAYAI CORPORATION Balance Sheet (Partial)