Reporting Financial Statement Effects of Bond Transactions On January 1, McKeown, Inc., issued $540,000 of 8%, 9-year bonds for $476,876, yielding a market (yield) rate of 10%. Semiannual interest is payable on June 30 and December 31 of each year. Record the bond issuance, semiannual interest payment, and discount amortization on June 30, and semiannual interest payment and discount amortization on December 31, using journal entries. Use the effective interest rate method. Note: Round your answers to the nearest whole dollar. Date Jan 11 Account Debit Credit 0 To record issuance of bonds Jun. 30 0 0 0 0 0 0 To record first semiannual installment Dec. 31 0 0 0 0 To record second semiannual installment b. Post the journal entries to their respective T-accounts. Note: Enter your answers in transaction order in the first open field of the appropriate column in each account