Wefald Company sold bonds with a face value of $625,000 for $595,000. The bonds have a coupon rate of 9 percent, mature in 10 years, and pay interest semiannually every June 30 and December 31.

All of the bonds were sold on January 1 of this year. Record the sale of the bonds on January 1 and the payment of interest on June 30 of this year, without the use of a discount account. Wefald uses the straight-line amortization method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar amount.)

(General Journal Options:

• No journal entry required
• Bonds payable
• Cash
• Discount on bonds payable
• Interest expense
• Interest revenue
• Loss on bond call
• Premium on bonds payable
• Rent revenue)