Ivanhoe Company issued $$430,000,9\%,20-$year bonds on January $1,2022,$ at $102.$ Interest is payable annually on January $1.$ Ivanhoe uses straight$-$line amortization for bond premium or discount.

$($a$)$

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

Jan. $1,$ Debit

$2022$

List of Accounts

Attempts: $0$ of $5$ used

$($b$).$

Prepare the journal entry to record the accrual of interest and the premium amortization on December $31,2022.($Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$