Presented below is the partial bond discount amortization schedule for Osaki Corp., which uses the effective interest method of amortization.

Interest Period	Interest to Be Paid		Interest Expense to Be Recorded		Discount Amortization		Unamortized Discount		Bond Carrying Value
Issue Date							$110,287		$1,216,713
1	$59,715		$60,836		$1,121		109,166		1,217,834
2	59,715		60,892		1,177		107,989		1,219,011

Prepare the journal entry to record the payment of interest and the discount amortization at the end of period 1.