IBM Corporation issued $100,000 of 8% term bonds on January 1, 2014, due on January 1, 2019, with interest payable each July 1 and January 1. Investors require an effective-interest rate of 12%. Prepare the schedule of bond discount amortization at January 1, 2014 and July 1, 2014. Record the journal entry of issuance at January 1, 2014 and the journal entry of the first interest payment at July 1, 2014. (Table6-2--the present value of $1, the factor for n=10, i=6% is 0.55839; table 6-4--the present value of ordinary annuity, the factor for n=10%, i=6% is 7.36009)