On January 1, 2019 Emerald City Jewelry Corp, Issued $50,000, 7%, 10-year bonds with interest payable semiannually on June 30 and December 31. The market rate on the issue date was 8%, which priced the bonds at $46,602.42. Prepare the journal entry for the June 30, 2020 interest payment, and show all your workings. (Round calculations to 2 decimals.)

Date	Account	Debit	Credit