On May 1, 2014, Herron Corp. issued $386,400, 8%, 5-year bonds at face value. The bonds were dated May 1, 2014, and pay interest semiannually on May 1 and November 1. Financial statements are prepared annually on December 31
Prepare the journal entry to record payment of interest on May 1, 2015, assuming no accrual of interest from January 1, 2015, to May 1, 2015