Question: FINANCIAL ACCOUNTING HELP PLEASE! Answer (B) please. Problem 10-10A (Part Level Submission) On January 1, 2017, Ayayai Corporation issued $1,600,000 face value, 5%, 10- year

FINANCIAL ACCOUNTING HELP PLEASE! Answer (B) please. On January 1, 2017, Ayayai Corporation issued $1,600,000 face value, 5%, 10-

Problem 10-10A (Part Level Submission) On January 1, 2017, Ayayai Corporation issued $1,600,000 face value, 5%, 10- year bonds at $1,482,239. This price resulted in an effective interest rate of 6% on the bonds. Ayayai uses the effective-interest method to amortize bond premium or discount. The bonds pay annual interest January 1. (a) DZ Your answer is partially correct. Try again. Prepare the journal entry to record the issuance of the bonds on January 1, 2017. (Round answers to o decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Aocount Titles and Explanation Credit Jan. 1 Cash T 1,482,239 EX T Premium on Bonds Payable 117,761 Bonds payable 1,600,000 SHOW LIST OF ACCOUNTS SHOW

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