Cheyenne Corporation issued $600,000, 7%, 20-year bonds on January 1, 2022, for $541,091. This price resulted in an effective-interest rate of 8% on the bonds. Interest is payable annually on January 1. Cheyenne uses the effective-interest method to amortize bond premium or discount.

Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2022. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.)