Cornerstone Exercise 9-38 Bonds Issued at a Premium (Effective Interest) Charger Battery issued $200,000 of 11%, 7-year bonds on January 1, 2020, for $220,132. Interest is paid annually on December 31. The market rate of interest is 9%. Required: Prepare the journal entries for December 31, 2021 and 2022. If required, round your answers to the nearest whole dollar. 19,812 x Dec 31, 2021 2004 Interest Expense Premium on Bonds Payable Cash 22,000 Dec 31, 2022 Interest Expense 19,615 x Premium on Bonds Payable V 2.385 x Cash 22,000