Presented below is the partial bond discount amortization schedule for Flint Corporation, which uses the effective- interest method of amortization. Interest Periods Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount Bond Carrying Value Issue date $91,719 $1,002,281 1 $54,700 $60,137 $5,437 86,282 1,007,718 2 54,700 60,463 5,763 80,519 1,013,481 (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 List of Accounts