(b) Your answer is partially correct. Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming no previous accrual of interest. (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 Dec. 31 Interest Expense Premium on Bonds Payable Interest Payable e Textbook and Media List of Accounts Current Attempt in Progress Kingbird, Inc. issues $4.90 million, 5-year, 9% bonds at 104, with interest payable on January 1. The straight-line method is used to amortize bond premium. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Cash 5096000 Bonds Payable 4900000 Premium on Bonds Payable 196000 e Textbook and Media List of Accounts Attempts: 1 of 5 used