CES ltd. issued $500,000, 8%, 10-year bonds on January 1, 2018, for $467,912. This price resulted in an effective-interest rate of 9% on the bonds. Interest is payable annually on January 1. CES uses the effective-interest method to amortize bond premium or discount. Record the accrual of interest and the discount amortization on December 31, 2018 and December 31, 2019.