On January 1, 2019, the date of bond authorization, Paquette Inc. issued 3-year, 12-per cent bonds. Semi-annual interest is payable on June 30 and December 31. Paquette uses the straight-line method of amortization. The following journal entry records the first payment of interest: 2019 17,000 June 30 Interest Expense 16,500 Cash 500 Discount on Bonds Required: Reconstruct the journal entry made to record the issuance of bonds on January 1, 2019