Show Attempt History Current Attempt in Progress Woode Corporation issued $400,000, 7%, 20-year bonds on January 1, 2022, for $360,727. This price resulted in an effective- interest rate of 8% on the bonds. Interest is payable annually on January 1. Woode uses the effective interest method to amortize bond premium or discount. (a) Your answer is correct Prepare the journal entry to record the issuance of the bonds (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Jan. 1, 2022 Cash 360.727 Discount on Bonds Payable 39.273 Bonds Payable 400,000 e Textbook and Media Assistance Used Tieu x EX 13 WeX IN X X 3 SEX 3 NW X A PX G x + location wiley.com/w/assessment player/index.htmlaunchide20054da-c41412 02.Scd3-557415f/question/ work estion 3 of 5 2.2274 11! b) Your answer is partially correct. Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2022. (Round answers to decimal places, eg. 15,250. Credit account titles are automatically indented when amount is entered. Do not Indent manually.) Credit Debit Account Titles and Explanation Date Dec 31, 2022 Interest Expense 400,000 Discount on Bonds Payable 29.273 360727 Interest Payable eTextbook and Media List of Accounts Attemptse 1 of 4 used Sumit Answer Save for Later E 8 O