On June 1, 2019, Pharoah Company sold $3.840,000 in long-term bonds for $3,368,100. The bonds will mature in 10 years and have a stated interest rate of 8% and a yield rate of 10%. The bonds pay interest annually on May 31 of each year. The bonds are to be accounted for under the effective interest method. Your answer is correct. Construct a bond amortization table for this problem to indicate the amount of interest expense and discount amortization at each May 31 (Please round interest expense and bond discount columns to zero decimal places.) Date Credit Cash Debit Interest Expense Credit Bond Discount 6/1/19 5/31/20$ 307200 $ 336810 $ 29610 5/31/21 307200 339771 32571 5/31/22 307200 343028 35828 5/31/23 307200 346611 39411 eTextbook and Media List of Accounts x Your answer is incorrect Assuming that interest and discount amortization are recorded each May 31, prepare the adjusting entry to be made on December 31, 2021. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31