On January 1, 2019, Drennen Inc. issued $4.6 million face amount of 6-year, 14% stated rate bonds when market interest rates were 12%. The bonds pay semiannual interest each June 30 and December 31 and mature on December 31, 2024.

b-2. Assume instead that the proceeds were $4,820,000. Record the journal entry to show the payment of semiannual interest and the related discount amortization on June 30, 2019, assuming that the discount of $180,000 is amortized on a straight-line basis.