Your answer is partially correct. On January 1, 2020, Buffalo Corporation issued $570,000 of 9% bonds, due in 8 years. The bonds were issued for $603.210, and pay interest each July 1 and January 1. The effective-interest rate is 8% Prepare the company's journal entries for (a) the January 1 issuance, (b) the ly 1 interest payment, and (c) the December 31 adjusting entry Buffalo uses the effective-interest method. (Round inter ate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, eg. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Account Titles and Explanation Debit Credit (a) Jan 1.2020 0 Cash Bonds Payable Premium on Bonds Payable (b) July 1.2020 o Interest Payable Doc 21 2020.all 600210