On January 1, 2023, Hunger Games Ltd., issued $300,000 face value, 5-year bonds with a stated rate of 8% at an effective rate of 10% to yield $277,255. Interest is paid annually on December 31. Hunger Games Ltd., uses the effective-interest method of amortization. Required 1. Prepare entries for the following transactions: a. Issuance of the bonds on January 1, 2020. b. Payment of interest and amortization of discount or premium on December 31, 2020