Brief Exercise 169 On January 1, 2017, Morgan Enterprises issued 8%, 20-year bonds with a face amount of $5,000,000 at 101 . Interest is payable annually on January 1. Prepare the entries to record the issuance of the bonds and the first annual interest accrual and amortization assuming that the company uses straight-line amortization. (Credit account titles are automatically 'indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 2017 Account Titles and Explanation Debit Credit Jan. 1 :Cash Discount on Bonds Payable Bonds Payable Dec. 31 Interest Payable Discount on Bonds Payable Interest Payable Click if you would like to Show Work for this question: Qpen Show Work