On January $1,2024,$ Teal Mountain Corporation issued $$1,780,000$ face value, $4\%,10-$year bonds at $$1,642,553.$ This price resulted

in an effective$-$interest rate of $5\%$ on the bonds. Teal Mountain uses the effective$-$interest method to amortize bond premium or

discount. The bonds pay annual interest January $1.$

Prepare the journal entry to record the issuance of the bonds on January $1,2024.($List debit entry before credit entry. Credit

account titles are automatically indented when the 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. Round answers to $0$ decimal places, e$.$g$.5,276.)$ Prepare the journal entry to record the accrual of interest and the amortization of the discount on December $31,2024.($List all

debit entries before credit entries. Credit account titles are automatically indented when the 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. Round answers to $0$ decimal places, e$.$g$.5,276.)$

Date

Account Titles

Debit

Credit

Dec. $31,$

$2024$ Prepare the journal entry to record the payment of interest on January $1,2025.($List debit entry before credit entry. Credit account

titles are automatically indented when the 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. Round answers to $0$ decimal places, e$.$g$.5,276.)$

Debit

Credit Prepare the journal entry to record the accrual of interest and the amortization of the discount on December $31,2025.($List all

debit entries before credit entries. Credit account titles are automatically indented when the 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. Round answers to $0$ decimal places, e$.$g$.5,276.)$On January $1,2024,$ Teal Mountain Corporation issued $$1,780,000$ face value, $4\%,10-$year bonds at $$1,642,553.$ This price resulted in an effective$-$interest rate of $5\%$ on the bonds. Teal Mountain uses the effective$-$interest method to amortize bond premium or discount. The bonds pay annual interest January $1.$