Yale Corporation issued $$60,000,8\%($cash interest payable semiannually on June $30$ and December $31)10-$year bonds dated and sold on January $1.$ Yale amortizes any bond discount or premium using the effective interest amortization method and bond issuance costs are $$1,500.$ If the bonds were sold to yield $9\%,$ provide journal entries to be made at each of the following dates.

a$.$ January $1,$ for issuance of bonds.

b$.$ June $30,$ for the first interest payment.

Note: Round your answers to the nearest whole dollar.

$\backslash$table$[[$Date$,$Account Name,,Dr$.,$Cr$.],[$a$.$ Jan. $1,$Cash,$v,54,598,0],[$Discount on Bonds Payable,$v,5,402,0],[$Bonds Payable,$v,0,60,000],[$To record bond issuance.,,,$],[$b$.$ June $30,$Interest Expense,$v,2,457,0],[$Discount on Bonds Payable,$,0,57],[$Cash$,v,0,2,400],[$To record interest payment.,,,$]]$