Question 1 On January 1, 2020, Oriele Company issued $2.360.000, 9, 10-year bonds at $2.518,358. This price resulted in an effective interest rate on the bonds. Orice uses the effective interest method to amortize bord premium or discount The bonds pay annual interest on each January 1 Prepare the journal entries to record the following transactions. (Round answers to decimal places 2 Credit accounts are tomatically indented when amount is entered. Do not inden maally) (1) The issuance of the bonds on January 1, 2020 (2) Accrual of interest and the amortisation of the premium on December 31, 2020 (3) The payment of interest on January 1, 2021. (4) Accrual of interest and amortization of the premium on December 31, 2021. Debat Crede Date Account Titles and Explanation Jan. 1. 2030 (9) (2) Dec 31, 2020 (3) Jan 1, 2021 0.01