Prepare the journal entry to record the payment of interest on July 1,2024. (List all debit entries before credit entries. Credit account titles are outomotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Pharoah Resort Corp. issued a 20 -year, 8%,5285,000 mortgage note payable to finance the construction of a new building on December 31,2024 . The termit provide for semi-annual instaiment payments on June 30 and December 31. (a) Prepare the journal entries to record the mortgage note payable and the furst two instalment payments assuming the payment is a fixed principal payment of \$7,125, (Round onswers to 0 decimal places, es, 5,276, List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Recond journal entries in the order presented in the problem.) Question 5 of 8 Date Account Titles Debit. Credh buac of Note Entiosialmsot Rermsed On January 1,2024 , Sunland Ltd, issued $545,000 of 5%,5-year bonds. The bonds were issued to yicld a market interest rate of 6%. Sunland's year end is December 31 . On January 1, 2026, immediately after making and recording the semi-annual interest payment. Sunland redeemed the bonds. A partial bond amortization schedule is presented bolow