On January 1, 2022, Lily Corporation issued $1,623,000 face value, 6%, 10-year bonds for proceeds of $1,748,324. This price resulted in an effective-interest rate of 5% on the bonds. The bonds pay annual interest, each January 1 and Irik has a calendar year end. (a) Your answer is correct. Prepare the journal entry to record the issue of the bonds on January 1, 2022. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Dates Account Titles and Explanation Jan. 1, 2022 Cash Bonds Payable Debit 1748324 Credit 1748324