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Problem 14-9 Zero-coupon bonds [LO14-2] On January 1, 2018, Darnell Window and Pane issued $19.4 million of 10-year, zero-coupon bonds for $7479,54o. EVofs1. Pyofs. FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: 2. Determine the effective rate of interest. 1. & 3.to 5. Prepare the necessary journal entries Prepare the necessary journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermedaite calculation and final answers to nearest whole dollar.) Date Debit 7,479,540 11,920,460 No General Journal Credit January 01, 2018 Cash Discount on bonds payable Bonds payable 19,400,000 2 December 31, 201 Interest expense 1,192,046 Discount on bonds payable 1,192,046 December 31, 201 Interest expense 1,192,046 Discount on bonds payable 1,192,046 4 December 31, 202 Bonds payable 19,400,0000 Cash 19,400,000