Exercise 10-9 On January 1, Pharoah Company issued $422,000, 7%, 10-year bonds at face value. Interest is payable annually on January 1 swer is partially correct. Try again. Prepare 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 Cash 422000 Notes Payable 422 SHOW LIST OF ACCOUNTS LINK TO TEXT Your answer is partially correct. Try again. Prepare journal entry to record the accrual of interest on December 31. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 t Expense t Payable SHOW LIST OF ACCOUNTS LINK TO TEXT swer is partially correct. Try again. Prepare journal entry to record the payment of interest on January 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Interest Expense Interest Payable Click if you would like to Show Work for this question: Open Show Work