Show Attempt History Current Attempt in Progress On January 1, 2022, Lily Industries Inc issued a $87,000,5% bond due in 10 years with interest payable each January 1 and July 1. The effective interest rate is 6% Click here to view factor tables. (a) Your answer is partially correct. Determine the discount or premium on the bond. (For calculation purposes, round factor values to 5 decimal places 125124 and final answers to decimal places, eg. 5,275.) Discount on the bond s I Prepare the journal entry for the bond issue (Listall debit entries before credit entries Credit account bare automatically Indented when the amount is entered. Do not indent manually Discount on the bond $ Prepare the journal entry for the bond issue. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) Credit Debit Account Titles and Explanation e Textbook and Media List of Accounts Attempts: unlimited Submit Answer Save for Later