Brief-Exercise 14-7 Your answer is partially correct. Try again. On January 1, 2017, Teal Corporation issued $670,000 of 9% bonds due in 10 years. The bonds were issued for $715 529, and pay interest each July 1 and January 1, The effective-interest rate is 8%. Prepare the company's journal entries for (a) the January 1 issuance, (b) the July 1 interest payment, and (c) the December 31 adjusting entry. Teal uses the effective-interest method. (Round intermediate calculations to 6 decimal places, e.g 1.251247 and final answer to O decimal places, e.g. 38,548. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.)