Next Question Russell Company issued $120,000, 8%, 10-year bonds payable at 94 on January 6. Journalize the issuance of the bonds payable on January 1, 2024. 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2024. 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond discount or premium. (Record debits first, then credits. Select explanations on the last line of the journal entry.) 6. Journalize the issuance of the bonds payable on January 1, 2024. Date Accounts and Explanation Debit Credit Jan. 1 7. Journalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2024. Date Accounts and Explanation Debit Credit e