Analyzing and Reporting Financial Statement Effects of Bond Transactions On January 1, Hutton Corp. issued $320,000 of 15 -year, 11% bonds payable for $403,002, yielding an effective interest rate of 8%. Interest is payable semiannually on June 30 and December 31 . - Note: Carry all decimals in calculations; round the final answer to the nearest dollar. b. Post the journal entries to their respective T-accounts. - Note: Enter your answers, in transaction order, in the first open field of the appropriate column in each account