On September 1, 2019, a company issued 8% bonds with a face amount of $500,000. The bonds sold for $488,000 in mature on August 31, 2029 (10 years). Interest is paid semiannually on February 28 and August 31. The company uses the straight-line method and it's fiscal year ends December 31. Prepare the journal entry on December 31, 2019 for interest expense, a date with no cash is paid.

Account	Dr	Cr
Interest Expense