Watson Mutual Insurance Company issued a $55,000,6%,10-year bond payable at 107 on January 1,2024 , Interest is paid semiannually on January 1 anc July 1. Requirements 1. Joumalize the issuance of the bond payable on January 1,2024 . 2. Joumalize the payment of semiannual interest and amortization of the bond discount or premium on July 1,2024. Requirement 1. Journalize the issuance of the bond payable on January 1, 2024. (Record debits first, then credits. Select explanations on the last line of the joumal entry.) iequirement 2. Journalize the payment of semiannual interest and amortization of the bond discount or premium on July 1, 2024. (Assume bonds layable are amortized using the straight-line amortization method. Record debits first, then credits. Select explanations on the last line of the journal entry. Round your answers to the nearest whole dollar.)