Instructions On February 1, Clayton Co. issued $1,300,000 of 20-year, 9% bonds for $1,225,000. Interest is payable semiannually on February 1 and August 1. Present the entries to record the following transactions. Required: (a) Issuance of the bonds. * (b) First semiannual interest payment (record as separate entry from discount/premium amortization). (c) Amortization of bond discount/premium, on July 1, using the straight-line method of amortization.* *Refer to the Chart of Accounts for exact wording of account titles. Round to the nearest dollar when necessary. Issuance of the bonds on February 1. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT M First semiannual interest payment (record as separate entry from discount/premium amortization) on August 1. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT Amortization of bond discount/premium, on July 1, using the straight-line method of amortization. Refer to the Chart of Accounts for exact wording of account titles. Round to the nearest dollar when necessary. PAGE 1 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT