Oliver issued a $50,000, 6%, 10-year bond payable at 92 on January 1, 2016. Requirements 1. Journalize the issuance of the bond payable on January 1, 2016. 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2016. (Assume bonds payable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.) Requirement 1. Journalize the issuance of the bond payable on January 1, 2016. Date Accounts and Explanation Debit Credit 2016 Jan. 1