Bookmart Corp. issued 3 year bonds with a face value of $500,000 on January 1, 2020 and received total proceeds of $583,475.62. The bonds have an interest rate of 4% and interest is paid semi-annually on January 1 and July 1. The market interest rate was 5% when the bonds were issued. Given the information above, prepare the journal entry for the first interest payment. Round your answer to two decimal places. You must include a comma in the correct spot for your numbers. Debit Credit Credit +A $ +A +A