View Policies Current Attempt in Progress Kingbird Corporation issued $460,000,8%. 20-year bonds on January 1, 2020, for $418,007. This price resulted in an effective Interest rate of 9% on the bonds. Interest is payable annually on January 1, Kingbird uses the effective interest method to amortize bond premium or discount Prepare the journal entry to record the issuance of the bonds. (Round answers to decimal places, eg. 15,250. Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1. 2020 eTextbook and Media List of Accounts Prepare the journal entry to record the accrual of interest and the discount amortization on December 31, 2020. (Round answers to decimal places, es 15.250. Credit account titles are automatically indented when amount is entered. Do not indent manually Debit Credit Date Account Tities and Explanation Dec 31. 2020 e Textbook and Media List of Accounts Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account eitles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Jan Credit 1. 2021 e Textbook and Media List of Accounts Attempts: of 3 used