Yale Corporation issued to Zap Corporation ($ 60,000,8 %) (cash interest payable semiannually on July 1 and

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Yale Corporation issued to Zap Corporation $\$ 60,000,8 \%$ (cash interest payable semiannually on July 1 and January 1) 10 -year bonds dated and sold on January 1,2020 . If the bonds were sold at face value, provide the journal entries to be made at each of the following dates. Yale's fiscal year ends on December 31.

a. January 1,2020 , for issuance of bonds.

b. July 1,2020 , for the interest payment.

c. December 31,2020 , for the adjusting entry.

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