On January 1, 2024, Shark Company sold $809,000 of 10% ten-year bonds. Interest is payable semiannually on June 30 and December 31. The bonds were sold for $722,000, priced to yield 12%. Shark records interest at the effective rate. Required: 1. Prepare the journal entry to record interest on June 30, 2024, using the effective interest method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

TB Problem 14-184 (Algo) On January... On January 1, 2024, Shark Company sold $809,000 of 10% ten-year bonds. Interest is payable semlannually on June 30 and December 31 . The bonds were sold for $722,000, priced to yleld 12%. Shark records interest at the effectlve rate. Requlred: 1. Prepare the Journal entry to record Interest on June 30,2024 , using the effectlve Interest method. Note: If no entry Is required for a transaction/event, select "No journal entry required" In the first account fleld