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. Date a. Jan. 1 Cash b. June 30 Account Name Discount on Bonds Payable Bonds Payable To record bond issuance. Interest Expense Cash Discount on Bonds Payable To record interest payment. > > Dr. Cr. 54,597 0 5,403 0 0 60,000 2,457 0 0 2,400 0 57