On January 1, a company issues bonds dated January 1 with a par value of $300,000. The bonds mature in 5 years. The contract rate is 9%, and interest is paid semiannually on June 30 and December 31. The market rate is 8% and the bonds are sold for $312.177. The journal entry to record the first interest payment using straight-line amortization is: Required: Prepare the journal entry to record the first interest payment using straight line amortization