part b please

8.5/17 HIT View Policies Show Attempt History Current Attempt in Progress Teal Mountain Inc. issues $5.0 million 10-year, 8% bonds at 101, with interest payable on January 1. The straight-line method is used to amortize bond premium (a) Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Debit Credit Date Account Titles and Explanation Jan. 1 5050000 Premium on Bonds Payable 5000000 Donds Payable e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit