Lacey Corp. issued a three-year, \(\$ 5,000\) note with an \(8 \%\) stated rate to Hayley Co. on January 1, 2020, and received cash of \(\$ 5,000\). The note requires semiannual interest payments on June 30 and December 31. Provide journal entries to be made at each of the following dates.

a. January 1,2020 , for issuance of the note.

b. June 30, 2020, for the interest payment.