Birel, Inosed $400,000 of 3-year percent bonds payable on January 1, Barret, Inc.ya interest each January and July and many count premium by the straight-line method Barret, Inc.,cansoo its bonde payable under various conditions: Clicke icon to view the conditions) Read the requirements Journal entry Date Accounts Jan 1 Cash Bonds payable Credit Debat 480.000 150 000 a. Record the payment of semiannual interest when the bonds are issued at par Journal Entry Accounts Credit Date 1 Debit 14.400 Jul Interest expense Cash 14.400 b. Record the issuance of a price of $425,000 when the market rate was above 6 percent Journal Entry Date Accounts Debit Credit Jan Cash 425,000 Discount on bonds payable 55.000 Bonds payable 480,000 b. Record the payment of semiannual interest when the bonds are issued at a price of $425,000 and the market rate was above 6 percent. (Round the area whole number.) Journal Entry Date Accounts Debit Credit Jul + Interest expense 19000 Cash 14400 Discount on bonds payable 5600