Lincoln, Inc., issued $500,000 of 3-year, 10 percent bonds payable on January 1. Lincoln, Inc., pays interest each January 1 and July 1 and amortizes any discount or premium by the straight-line method. Lincoln, Inc., can issue its bonds payable under various conditions: (Click the icon to view the conditions.) Read the requirements Requirement 1. Journalize Lincoln's issuance of the bonds and first semiannual interest payment for each situation. Explanations are not required. (Record debits first, then credits. Exclude explanations from and inmal entries)