Presented below is the partial bond discount amortization schedule for Oriole Corp. Oriole uses the effective-Interest method of amortization. Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value Interest Periods Interest to Be Paid Issue date $54,053 $1,345,947 1 $63,000 $67,297 $4,297 49,756 1,350,244 2 63,000 67,512 4,512 45,244 1,354,756 (a) Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit