Exercise 10-22 Oriole Corporation issued $520,000, 896, 20-year bonds on January 1, 2019, for $472,529. This price resulted in an effective-interest rate of 9% on the bonds. Interest is payable annually on January 1. Oriole uses the effective-interest method to amortize bond premium or discount. Your answer is partially correct. Try again Prepare the journal entry to record the issuance of the bonds. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 Cash 520000 Bonds Payable 472529 Premium on Bonds Payable 47471 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE Your answer is partially correct. Try again Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2019. (Round answers to 0 decimal places, e.g. 15,250 Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Interest Expense Premium on Bonds Payable Interest Payable SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR EXERCISE