Gomez issues $240,000 of 6%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31. They are issued at $198,494, and their market rate is 8% at the issue date. Required Prepare the January 1, 2015, journal entry to record the bonds' issuance. Determine the total bond interest expense to be recognized over the bonds' life. Prepare an effective interest amortization table like the one in Exhibit 10B.1 for the bonds' first two years. Prepare the journal entries to record the first two interest payments.