On January 1, Durkin Industries issues 9 percent, 20-year bonds payable with a maturity value of $80,000. The bonds sell at 97 and pay interest on January 1 and July 1. Durkin Industries amortizes any bond discount or premium by the straight-line method. Requirements 1. Record the issuance of the bonds on January 1. 2. Record the semiannual interest payment and amortization of any bond discount or premium on July 1. Requirement 1. Record the issuance of the bonds on January 1. (Record debits first, then credits. Exclude explanations from any journal entries.) Date Jan Journal Entry Accounts Debit Credit Requirement 2. Record the semiannual interest payment and amortization of any bond discount or premium on July 1. (Round your answers to the nearest whole number.) Date Jul 1 Journal Entry Accounts Debit Credit ement 1. Record the issuance of the bonds on January 1. (Record debits first, then credits. Exclude explanation Journal Entry te 1 Accounts Debit Credit Accounts payable nortization of any bond discount or premium on July 1 ement Bonds payable te Cash Discount on bonds payable Interest expense Premium on bonds payable Debit Credit