On January 1, 2009, Clintwood Corporation issued a $50,000, ten-year, 6% bond payable (interest payable semi annually on June 30 and December 31). For the three assumptions below, complete the following schedule assuming the accounting year ends December 31, and straight-line amortization is used:
D. Provide the June 30 and December 31, 2009 journal entries to record interest expense and the payment of interest.