On January 1, a company issues bonds dated January 1 with a par value of $730,000. The bonds mature in 3 years. The contract rate is 10%, and interest is paid semiannually on June 30 and December 31. The bonds are sold for $718,000. The journal entry to record the first interest payment using straight-line amortization is:

On lanuary 1, a company isstues bonds dated danuary 1 with a par value of $730.000. The bonds mature in 3 years. The contract rate is 1056 . and interest is pald semiannually on June 30 and December 31 . The bonds are sold for 5718,000 . The joumal entry to record the first interest payment using straight Ane amortiration is: Matiple Oroice Debe thond imerest Fugense \$34500, coest Drocount on Donds Paytale 32.000, cedit Cash $361.00 Cetit intedest Peyable 536500, crest Cinn 536.500