On November 1, 2019, Valleymen Corporation issued $800,000 worth of ten-year, 9 percent bonds. The semiannual interest dates are November 1 and May 1. The market interest rate of similar investments was 8.5 percent. The bonds were issued at a price of 103. Required: Ignoring year-end accruals, prepare entries in journal form without explanations to record the bond issue on November 1, 2019, and the payments of interest on May 1 and November 1, 2020. Use the effective interest method of amortization. Round answers to the nearest dollar