On January 1, 2019, Gatrong Corporation purchased 14%, 5-year Fleming Corporation bonds with a face value of $100,000. It expects to hold these bonds until maturity. The bonds pay interest semiannually on June 30 and December 31. Gatrong paid $115,443, a price that yields a 10% effective annual interest rate. Required: Prepare the journal entry on June 30 for Gatrong to record the first interest receipt, using the effective interest method. Chart of Accounts Gatrong corporation General Ledger ASSETS REVENUE 111 Cash 411 Sales Revenue 121 Accounts Receivable 431 Interest Income 122 Allowance for Doubtful Accounts 125 Notes Receivable EXPENSES 500 Cost of Goods Sold 141 Inventory 151 Supplies 511 Insurance Expense 152 Prepaid Insurance 512 Utilities Expense 191 Investment in Held-to-Maturity Debt Securities 513 Delivery Expense 515 Supplies Expense LIABILITIES 521 Advertising Expense 523 Salaries Expense 211 Accounts Payable 221 Notes Payable 531 Bad debt Expense 224 Interest Payable 539 Miscellaneous Expenses 231 Salaries Payable 540 Interest Expense EQUITY 311 Common Stock 331 Retained Earnings 351 Dividends 391 Income Summary Prepare the journal entry on June 30 for Gatrong to record the first interest receipt, using the effective interest method. General Journal Instructions PAGE 1 GENERAL JOURNAL DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT