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. If the bonds were sold to yield 7%, 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 answer to the nearest whole dollar. Date a. Jan. 1 Account Name Cash Discount on Bonds Payable Bonds Payable To record the issuance of bonds. b. June 30 Interest Expense Discount on Bonds Payable Cash To record the first interest payment. Dr. Cr. 56,098 0 x 5,402 0x 0 60,000 1,911 0x 0 57 x 0 2,400