34 BE14-2 The Colson Company issued 300,000 of 10% bonds on January 1, 2011. The bonds are due Jan- uary 1, 2016, with interest payable each July 1 and January 1. The bonds are issued at face value. Prepare Colson's journal entries for (a) the January issuance, (b) the July 1 interest payment, and (c) the Decem- ber 31 adjusting entry.