On January 31, 2016, Durkin Logistics, Inc., issued five-year, 6% bonds payable with a face value of $12,000,000. The bonds were issued at 98 and pay interest on January 31 and July 31. Durkin Logistics, Inc., amortizes bond discount by the straight-line method. Requirement 1. Record (a) issuance of the bonds on January 31, 2016, (b) the semiannual interest payment and amortization of bond discount on July 31, 2016, and (c) the interest accrual and discount amortization on December 31, 2016 a. Record the issuance of the bond payable on January 31, 2016. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Debit Date Credit Accounts Jan 31 b. Record the payment of semiannual interest and amortization of bond discount on July 31, 2016 Journal Entry Date Debit Credit Accounts July 31