On January 1, 2009 a company issued 10%, 10-year bonds payable with a par value of $720,000. The bonds pay interest on July 1 and January 1. The bonds were issued for $817,860 cash, which provided the holders an annual yield of 8%. Prepare the journal entry to record the issuance of the bonds and first semiannual interest payment assuming it uses the straight-line method