pART D (25 POINTS) Show all work and label all numbers The Black Company issued $600,000,10%,10-year bonds on January 1, 2022, for $552,220, when the market interest rate was 11%. Interest is payable annually on December 31 . White uses the effective interest method of amortization and has a calendar year end. Instructions Prepare the journal entry to record the annual interest expense and payment for the bonds for the year ending 1 -har 31.2023. pART D (25 POINTS) Show all work and label all numbers The Black Company issued $600,000,10%,10-year bonds on January 1, 2022, for $552,220, when the market interest rate was 11%. Interest is payable annually on December 31 . White uses the effective interest method of amortization and has a calendar year end. Instructions Prepare the journal entry to record the annual interest expense and payment for the bonds for the year ending 1 -har 31.2023