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Sarasota Corporation issued $ 4 4 0 , 0 0 0 , 7 % , 2 0 - year bonds on January 1 , 2

Sarasota Corporation issued $440,000,7%,20-year bonds on January 1,2025, for $396,801. This price resulted in an effectiveinterest rate of 8% on the bonds. Interest is payable annually on January 1. Sarasota uses the effective-interest method to amortize bond premium or discount.
Prepare the journal entry to record the issuance of the bonds. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g.5,275.)
List of Accounts
Prepare the journal entry to record the accrual of interest and the discount amortization on December 31,2025.(List all debit entries before credit entries. Credit account titles are automatically indented when 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. Round answers to 0 decimal places, e.g.5,275.j)
Date
Account Titles and Explanation
Debit
Credit
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