Question 19 On January 2, 2020, $100,000 of 11%, 10-year bonds were issued for $96,800. The $3,200 discount was charged to Interest Expense. The bookkeeper, Mark Landis, records interest only on the interest payment dates of January 1 and July 1. What is the effect on reported net income for 2020 of this error, assuming straight-line amortization of the discount? (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.) Account Titles and Explanation Debit Credit What entry is necessary to correct for the failure to accrue Interest, assuming that the books are not closed for 2020? (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.) Account Titles and Explanation Debit Credit