Pharoah Company issued $580,000, 8 %, 10-year bonds on December 31, 2020, for $545,200. Interest is payable annually on December 31. Pharoah uses the straight-line method of amortization and has a calendar year end. Prepare the appropriate journal entries on (a) December 31, 2020. (b) December 31, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.) (a) (b) Date Account Titles and Explanation Dec. 31, 2020 Dec. 31, 2021 Debit Credit

Pharoah Company issued $580,000,8%,10-year bonds on December 31,2020 , for $545,200. Interest is payable annually on December 31. Pharoah uses the straight-line method of amortization and has a calendar year end. Prepare the appropriate journal entries on (a) December 31,2020. (b) December 31,2021. (Credit occount titles are automotically indented when amount is entered. Do not indent manually. List all debit entries before credit entries