On January 1, 2017, Tamarisk Inc. issued $500,000 of 7%, 5-year bonds at par. Interest is payable semiannually on July 1 and January 1. 

Prepare journal entries to record the following. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) 

(a) The issuance of the bonds. 

(b) The payment of interest on July 1. 

(c) The accrual of interest on December 31.