Lo ance Corporation issued 831 000 8%. 10 eer bonds on January 1 2015 for 5776.948. This price esulted in an e ective interest ate o 9% on the bonds. Interest is pe eble se ia nual y on )u y 1 and January 1 Lorance uses the effective interest emortize bond premium or discount ethod to Your answer is correct 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 Debit Credit scount on Bonds Your anawer is partially correct. Try apain. Prapare tha journal entry to rocord the payment of interast and tha discount amortization on July 1, 2015, assuming that intareat was not accrued on June 30. (Round answers to 0 decimal places, a.g. 15,250. Crodit account titlos are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July Interest T scount on Bonds Your answer is partially corract. Try again Prepare the journel entry to record the accrual of interest and the discount amortization on December 31, 2015. (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 Debit Credit Dac. 31 Illntarest Payabla scount on Bonds Payab