Cornerstone Exercise 9-29 (Algorithmic) Debt Issued at a Premium (Straight Line) On January 1, 2020 Ironman Steel issued $800,000, 8-year bonds for $865,000 The stated rate of interest as 6% and interest s paid annual Required Prepare the necessary journal entry on December 31, 2023, assuming the straight-line method is followed. 2023 Dec. 31 Cash x on December 3 800,000 Bonds Payable x-165,000 x (Record interest expense)