Current Attempt in Progress Oriole Inc. issues $4,000,000, 5-year, 8% bonds at 103, with interest payable annually on January 1. The straight-line method is used to amortize bond premium. (a) Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash Bonds Payable Premium on Bonds Payable 4120000 4000000 120000 SUPP Question 10 of 10 < > (b) 0.5/1 Prepare the adjusting journal entry to record interest expense and bond premium amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Dec. 31 eTextbook and Media List of Accounts Save for Later Debit Credit Attempts: 0 of 4 used Submit Answer