On January 1, 2020,MartinezCorporation issued $520,000of7% bonds, due in10years. The bonds were issued for $558,684, and pay interest each July 1 and January 1. The effective-interest rate is6%.

Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry.Martinezuses the effective-interest method.(Round intermediate calculations to 6 decimal places, e.g. 1.251247 and final answer to 0 decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)