Question Content Area Given the following data, journalize the entry for interest expense and any related amortization on July 1 of the first year using the effective interest rate method. The bonds were issued on January 1 for $7,411,233. Bonds payable, maturing in 10 years = $8,000,000 Contract interest rate = 5% Market (effective) interest rate = 6% If an amount box does not require an entry, leave it blank. Round your answers to the nearest dollar