Can I please have some assistance getting the right answer and a step by step guide.

SECTION 4 (12 points) d BRIL On January 1, 2019, Gibbs Corporation issued $8,000,000 face value, 7%, 15 year bonds at $8,777,020. This pric esulted in an effective interest rate of 6% on the bonds. Gibbs Corporation uses the effective interest method to amortiz ond premium or bond discount. The bonds pay annual interest on January 1. Required: On the journal pages provided below each transaction description, prepare journal entries in good form) ecord the following 4 transactions. Be sure to include dates. 1) Issuance of the bonds for cash on January 1, 2019. Debit Credit Description 2) Accrual of the interest on December 31, 2019. Debit Credit Dale Da 1 Indogh Description Erfen Prenting in bout Dolable Ros forable 2579 22 3) Payment of the interest on January 1, 2020. Description Debit Credit 56 Cash 4) Accrual of the interest on December 31, 2020. Date Description Debit Credit Oni nas! Esse 5922 760 S9