A company issued 7%, 15-year bonds with a par value of $570,000 that pay interest semiannually. The market rate on the date of issuance was 7%. The journal entry to record each semiannual interest payment is On August 1, a $60,000,7%, 3-year installment note payable is issued by a company. The note requires equal payments of principal plus accrued interest of $22.863 10. The entry to record the first payment on July 31 would include