The long-term debt section of Karidis Corporation's balance sheet at the end of its fiscal year, December 31, 2013, follows.

Long-term liabilities
Bonds payable8%, interest payable
1/1 and 7/1, due 12/31/16	$500,000
Less unamortized bond discount	40,000		$460,000

Using the effective interest method, prepare entries in journal form relevant to the interest payments on July 1, 2014, December 31, 2014, and January 1, 2015. Assume a market interest rate of 10 percent. For a compound transaction, if an amount box does not require an entry, leave it blank.