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5

On January 1,2025, a company issued $400,000 of 7%,5 year bonds that poy interest semiannually. They were issued at a markat price of $395000, The company uses the ith amortization method for bond premiuma and discounts. Plepare the poumal entries for the following transactions 1. The issuance of the bonds on January 1,2025 2. The first interest payment on June 30,2025 Explariationt are not needed. Show all work to rective gartial credit if you plan to submit scrop paper, fype "scrap paper" below