Yang Corporation wholesales repair products to equipmentmanufacturers. On May 1 2014 Yang Corporation issued $20000000of 10-year 9% bonds at a market (effective) interest rate of 7%receiving cash of $22842560. Interest is payable semiannually onMay 1 and November 1.Journalize the entry to record the firstinterest payment on November 1 2014 and amortization of bondpremium for six months using the straight-line method. (Round tothe nearest dollar.) For a compound transaction if an amount boxdoes not require an entry leave it blank.