On May 1, 2021, Pharoah Corp. issued $920,000 of 5-year, 8% bonds at 96. The bonds pay interest annually on May 1. Pharoah's year end is April 30. Record the issue of the bonds on May 1, 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 for the amounts.) Debit Credit Date Account Titles and Explanation May 1 Cash 883200 Bonds Payable 883200 Calculate the effective rate of the bonds using Excel or a financial calculator, (Round answer to 4 decimal places, es. 1.5751.) Effective rate 6 % Prepare an effective interest amortization table for this bond. (Round answers to decimal places, s. 5.276) Pharoah CORP. Bond Discount Amortization Table Effective Interest Method-Annual Interest Payments Interest Expense Discount Amortization Interest Payment Bond Amortizer $ Date May 1. 2021 May 1. 2022 46000 52992 6992 May 46000 1. 2023 May 1. 2024 46000 May 46000 1. 2025 May 1. 2026 46000 Record the accrual of interest at April 30, 2022. (Credit account titles are automatically indented when the amount is entered. Do indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers to decin places, eg. 5,276) Date Debit Credit Account Titles and Explanation Interest Expense Apr. 30 Bonds Payable Interest Payable (To accrue interest expense.) Record the interest payment on May 1, 2022. (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.) Debit Credit Date Account Titles and Explanation May 1 Interest Expense Cash Question 3 of 10