Yale Corporation issued to Zap Corporation $36,000, 8% (cash interest payable semiannually on July 1 and January 1) 10-year bonds dated and sold on January 1, 2020. If the bonds were sold at face value, provide the journal entries to be made at each of the following dates. Yale's fiscal year ends on December 31.

a. January 1, 2020, for issuance of bonds.

b. July 1, 2020, for the interest payment.

c. December 31, 2020, for the adjusting entry.

	Date	Account Name	Dr.	Cr.
a.	Jan. 1, 2020	CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI
		CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI
b.	Jul. 1, 2020	CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI
		CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI
c.	Dec. 31, 2020	CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI
		CashInventoryEquipmentLandDeferred RevenueBonds PayableDiscount on Bonds PayableDiscount and Debt Issuance CostsPremium on Bonds PayableFair Value AdjustmentBonds PayableNote PayableDiscount on Note PayablePremium on Note PayableFair Value AdjustmentNote PayableInterest PayableCommon StockPaid-in Capital in Excess of ParCommon StockPaid-in CapitalStock WarrantsRetained EarningsPrior Period AdjustmentDebt Conversion ExpenseInterest ExpenseLoss on Redemption of BondsGain on Redemption of BondsUnrealized Gain or LossIncomeUnrealized Gain or LossOCI