Yale Corporation issued to Zap Corporation $60,000, 8% (cash interest payable semiannually on June 30 and December 31) 10-year bonds dated and sold on January 1. Assume that the company uses 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 answer to the nearest whole dollar. Date a. Jan. 1 Cash Account Name Discount on Bonds Payable Bonds Payable To record bond issuance. b. June 30 Interest Expense Discount on Bonds Payable Cash To record interest payment. > > Dr. Cr. 54,597 0 % 0 2,374 x 0 60,000 0 0x 0 0 x 0 0 %