Skysong, Inc. issues $1.50 million, 10-year, 8% bonds at 97, with interest payable each January 1. (a) Your answer is partially correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (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 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 14,55,000 Discount on Bonds Payable 45,000 Bonds Payable 15,00,000 e Textbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above. Kingbird, Inc. issued 3,300 7%, 5-year $1.000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Your answer is correct. Prepare the journal entry to record the sale of these bonds on January 1, 2022. (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 Ofor the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 3,300,000 Bonds Payable 3,300,000 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) - Your answer is partially correct. Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (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 Ofor the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Interest Expense 1,65,000 Interest Payable 1,65,000 e Textbook and Media List of Accounts