Medhurst Corporation issued $90,000 in bonds for $87,000. The bonds had a stated rate of 8% and pay interest quarterly.

Premium on Bonds Payable	Interest Income	Discount on Bonds Payable
Interest Expense	Cash	Bonds Payable

PLEASE NOTE: For accounts having similar accounting treatment (DR or CR), you are to record accounts in the same order as shown in the textbook. You must enter the account names exactly as written above and all whole dollar amounts will be with "$" and commas as needed (i.e. $12,345).

What is the journal entry to record the issuance of the bonds?

DR
DR/CR ?
CR

What is the journal entry to record the first interest payment?

DR
CR