Teter Company issued $700,000 par value, 5-year, 3% bonds on November 30, 2018. The bonds are dated July 1, 2018, and pay interest semiannually on June 30 and December 31. The bonds are sold at $723,807, including accrued interest, because they are sold between interest dates. The market rate of interest on the date or sale was 2.5%. Prepare the journal entries required to issue the bonds on November 30, 2018, and record the first interest payment on December 31, 2018.