On January $1,2022,$ Marigold Corp. issued $$1,200,000$ face value, $9\%,10-$year bonds at $$1,280,521.$ This price resulted in a $8\%$ effective$-$interest rate on the bonds. Marigold uses the effective$-$interest method to amortize bond premium or discount. The bonds pay annual interest on each January $1.$

$($a$)$

Prepare the journal entries to record the following transactions. $($Round answers to $0$ decimal places, e$.$g$.15,250.$ 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.$)$

$(1)$ The issuance of the bonds on Janutary $1,2022.$

$(2)$ Accrual of interest and amortization of the premium on December $31,2022.$

$(3)$ The payment of interest on January $1,2023.$

$(4)$ Accrual of interest and amortization of the premium on December $31,2023.$

No$.$

Date

Account Titles and Explanation

Debit

$(1)$

$$

$$

$(2)$ Dec. $31,2022$

$$

$$

$$

$$

$$

$$

$(3)$

$$

$$

$(4)$ Dec. $31,2023$

$$

$$

$$