Yale Corporation issued to Zap Corporation $120,000, 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 $3,000. 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 Account Name Dr. Cr. a. Jan. 1     Answer       Answer       Answer   To record bond issuance.     b. June 30     Answer       Answer       Answer   To record interest payment.

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