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Solve the blank^^ Current Attempt in Progress Cheyenne Corp. issued $472,000,5%,30-year bonds on January 1, 2022, at 103. Interest is payable annually on January 1.

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Solve the blank^^

Current Attempt in Progress Cheyenne Corp. issued $472,000,5%,30-year bonds on January 1, 2022, at 103. Interest is payable annually on January 1. Cheyenne uses straight-line amortization for 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. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 486160 Bonds Payable 472000 Premium on Bonds Payable 14160 eTextbook and Media List of Accounts Attempts: 1 of 3 used (b) Your answer is partially correct. Prepare the journal entry to record the accrual of interest and the premium amortization on December 31, 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 0 for the amounts.) Date Account Titles and Explanation Dec. 31 Interest Expense 24308 Premium on Bonds Payable 708 Interest Payable eTextbook and Media

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