Monty Corp. sold $2,080,000, 5%, 5-year bonds on January 1, 2022. The bonds were dated January 1, 2022, and pay interest on January 1. Monty Corp. uses the straight-line method to amortize bond premium or discount.

(a)

Prepare all the necessary journal entries to record the issuance of the bonds and bond interest expense for 2022, assuming that the bonds sold at 104. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date Dec. 31, 2022Jan. 1, 2022

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

Dec. 31, 2022

enter an account title for the journal entry on december 31, 2022

enter a debit amount

enter a credit amount

enter an account title for the journal entry on december 31, 2022

enter a debit amount

enter a credit amount

enter an account title for the journal entry on december 31, 2022

enter a debit amount

enter a credit amount