Problem 10-12A On January 1, 2019, Splish Brothers Inc. issued $3,980,000 face value, 8%, 10-year bonds at $3,724,577. This price resulted in an effective-interest rate of 9% on the bonds. Splish Brothers uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest on January 1. Prepare the journal entry to record the issuance of the bonds on January 1, 2019. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1, 2019 Cash 3724577 Discount on Bonds Payable 255423 Bonds Payable 3980000 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare an amortization table through December 31, 2021 (three interest periods), for this bond issue. (Round answers to o decimal places, e.g. 15,250.) Splish Brothers Inc. Bond Discount Amortization Effective-Interest Method-Annual Interest Payments Interest Interest to Be Expense Discount Unamortized Paid to Be Amortization Discount Recorded Annual Interest Periods Bond Carrying Value Issue date 318400 3 35212 16812 318400 318400 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2019. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31, 2019 Interest Expense 335212 Interest Payable 318400 Discount on Bonds Payable 16812 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the payment of interest on January 1, 2020. (Round answers to o decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2020 Interest Payable 318400 Cash 318400 SHOW LIST OF ACCOUNTS LINK TO TEXT Prepare the journal entry to record the accrual of interest and the amortization of the discount on December 31, 2020. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Dec. 31, 2020 Interest Expense Interest Payable 318400 Discount on Bonds Payable Click if you would like to Show Work for this question: Open Show Work