Bellevue Marketing Corp. issued $600,000 of 6%, four-year bonds for $579,224 on July 1, 2017, the day the bonds were dated. The market interest rate on this date was 7%. Interest is paid quarterly beginning October 1, 2017. Bellevue uses the effective interest method to amortize bond discounts and premiums. Required: Journalize the following transactions and include an explanation for each entry. Record the issuance of the bonds and the first payment of interest