y & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment CALCULATOR FULL SCREEN PRINTER VERSION URCES Presented below is the partial bond discount amortization schedule for Novak Corp., which uses the effective interest method of amortization Interest Periods Issue date Interest to Be Paid Interest Expense to Be Recorded Discount Amortization Unamortized Discount $38,600 35,530 32,307 Bond Carrying Value $961,400 964 470 967,693 $45,000 45,000 $48,070 48,223 $3,070 3,223 Study 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 when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS LINK TO TEXT By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor