3 BE14-5 Devers Corporation issued 400,000 of 6% bonds on May 1, 2015. The bonds were dated January 1, 2015, and mature January 1, 2017, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest . Prepare Devers' journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry DE BE14-6 On January 1, 2015, JWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective-interest rate of 8%