c) December 31. Assume The Colson Company records straight-line amortization semiannually. 14-5 (L01) Devers Corporation issued $400.000 of 6% bonds on May 1, 2017. The bonds were dated January 1, 2017, and mature January 1, 2020, with interest payable July 1 and January 1. The bonds were issued at face value plus accrued interest. Prepare es s journal entries for (a) the May 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. BE14-6 (L01) On January 1, 2017, IWS Corporation issued $600,000 of 7% bonds, due in 10 years. The bonds were issued for $559,224, and pay interest each July 1 and January 1. JWS uses the effective interest method. Prepare the company's journal entries for (a) the January 1 issuance. (b) the luly 1 interest payment, and (c) the December 31 adjusting entry. Assume an effective interest rate of 8%. 14-7 (L01) Assume the bonds in BE14-6 were issued for $644,636 and the effective interest rate is 6%. Prepare the compa- ny journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry BE14-8 (L01) Teton Corporation issued $600,000 of 7% bonds on November 1, 2017, for $644,636. The bonds were dated November 1, 2017, and mature in 10 years, with interest payable each May 1 and November 1. Teton uses the effective interest method with an effective rate of 6%. Prepare Teton's December 31, 2017, adjusting entry