Outlandish Company issued a $120,000, 6%, 10-year bond payable at 92 on January 1, 2018. Interest is paid semiannually on January 1 and July 1. Read the requirements. Date Accounts and explanation Depit Credit 2018 Jan. 1 Cash 110,400 Discount on Bonds Payable 9,600 Bonds Payable 120,000 Issued bonds at a discount. Requirement 2. Journalize the payment of semiannual interest and amortization of the bond discount or pren on July 1, 2018. (Assume bonds payable are amortized using the straight-line amortization method. Record d first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest dollar.) Date Accounts and Explanation Debit Credit 2018 Jul. 1 Interest Expense Discount on Bonds Payable Cash Paid semiannual interest and amortized discount