Vaughn Inc. issued $180,000, 5-year bond on January 1, 2021 paying 5% interest on a semi-annual basis every January 1 and July 1. Prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method, a market interest rate of 4% and has a year-end of December 31, 2021. (Round answer to O decimal places, e.g. 5,275. 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.) Date January 1 Account Titles and Explanation Debit Credit July 1 December 31