On January 1, 2022, Broncos Universal issued 12% bonds dated January 1, 2022, with a face amount of $200 million. The bonds mature in 10 years. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. Required:  4. Prepare the journal entry to record interest on December 31, 2022, using the effective interest method

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