On January 1, Year 1, Young Company issued bonds with a face value of $110,000, a stated rate of interest of 12 percent, and a 10-year term to maturity. Interest is payable in cash on December 31 of each year. The effective rate of interest was 11 percent at the time the bonds were issued. The bonds sold for $116,478. Young used the effective interest rate method to amortize the bond premium.

d. Provide the general journal entry necessary to record the December 31, Year 1, interest expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.)

d. Provide the general journal entry necessary to record the December 31, Year 1, interest expense. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest dollar amount.) X Answer is not complete. No Date General Journal Debit Credit Year 1 12,813 Interest expense Bonds payable 387 Cash 13,200