Exercise 14-11 (Static) Bonds; effective interest; adjusting entry [LO14-2] On February 1, 2024, Strauss-Lombardi issued 9% bonds, dated February 1, with a face amount of $800,000. The bonds sold for $731,364 and mature on January 31, 2044 (20 years). The market yield for bonds of similar risk and maturity was 10%. Interest is paid semiannually on July 31 and January 31. Strauss-Lombardi's fiscal year ends December 31. Required: 1. to 4. Prepare the journal entries to record their issuance by Strauss-Lombardi on February 1, 2024, interest on July 31, 2024 (at the effective rate), adjusting entry to accrue interest on December 31, 2024 and interest on January 31, 2025. Note: Do not round intermediate calculations and round your final answers to the nearest whole dollar. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. No Date 1 February 01, 2024 Cash General Journal Debit Credit Discount on bonds payable Bonds payable 2 July 31, 2024 Interest expense Discount on bonds payable Cash 3 4 December 31, 2024 Interest expense Discount on bonds payable Interest payable January 31, 2025 Interest expense Interest payable Discount on bonds payable Cash