On June 30, $155,000 of 5-year, 10% Orbit bonds are issued at $143,591 to yield a market interest rate of 12%. Interest is payable semi-annually each June 30 and December 31.

Record the issue of the bonds on June 30 and the first interest payment on December 31 on the books of the investee (issuer). (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit June 30 Dec. 31