Exercise 10-27 Martinez Corporation issued $380,000, 7%, 20-year bonds on January 1, 2022, for $342,692. This price resulted in an effective-interest rate of method to amortize bond premium or discount. on the bonds. Interest is payable annually on January 1. Martinez uses the ef Prepare the schedule using effective-interest method to amortize bond premium or discount of Martinez. (Round answers to 0 decimal places, e.g. 5,275.) Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value Issue date $ 2 Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2022 Screen Shot 2020-08-10 at 1.14.52 PM Q Search Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2022 Prepare the journal entry to record the payment of interest on January 1, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2023