On January 1, 2013, a company issued 10-year, 10% bonds payable with a par value of dollor 500,000 at received dollor 442,647 in cash proceeds. The market rate of interest at the date of issuance was 12%. The bonds pay interest semiannually on July 1 and January 1. The issuer uses the straight-line method for amortization. Instructions: Prepare the issuer's general entry on January 1, 2013 and Prepare the journal entry to record the first semiannual interest payment on july 1, 2013