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Oakley Company issued a $40,000,5%, 10-year bond payable at 90 on January 1, 2018. Interest is paid semiannually on January 1 and July 1 Read the requirements Requirement 1. Journalize the issuance of the bond payable on January 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry) Date Accounts and Explanation Debit 2018 Jan 1 Oakley Company issued a $40,000, 5%, 10-year bond payable at 90 on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Read the requirements Requirement 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2018. (Assume bonds payable are amortized using the straight line amortization method Record debits first, then credits Select explanations on the last line of the journal entry Round your answers to the nearest whole dollar) Date Accounts and Explanation Debit Credit 2018 Jul 1 i Requirements 1. Journalize the issuance of the bond payable on January 1, 2018 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2018