Chowan Corporation issued $136,000 of 7% bonds dated January 1,2019 , for $131,421.73 on January 1,2019 . The bonds are due December 31,2022 , were issued to yield 8%, anc pay interest semiannually on June 30 and December 31 . Chowan uses the effective interest method of amortization. Required: Prepare the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30, 2019, December 31, 2019, and June 30, 2020. In addition, prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2020. Chart of Accounts CHART OF ACCOUNTS Chowan Corporation General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 141 Inventory EXPENSES 152 Prepaid Insurance 500 Cost of Goods Sold 181 Equipment 511 Insurance Expense 198 Accumulated Depreciation 512 Utilities Expense 521 Salaries Expense LIABILITIES 532 Bad Debt Expense 211 Accounts Payable 540 Interest Expense 231 Salaries Payable 541 Depreciation Expense 250 Unearned Revenue 559 Miscellaneous Expenses 255 Bonds Payable 910 Income Tax Expense 256 Premium on Bonds Payable Prepare the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30,2019 , December 31,2019 , and June 30, 2020. Prepare the journal entries to record the issue of the bonds on January 1, 2019, and the interest payments on June 30,2019, December 31,2019 , and June 30, 2020. Prepare a bond interest expense and discount amortization schedule for the bonds through June 30, 2020