On the first day of the current fiscal year, $1,500,000 of 10-year, 8% bonds, with interest payable semiannually, were sold for $1,225,000. Present entries to record the following transactions for the current fiscal year:
a) Issuance of the bonds.
b) First semiannual interest payment.
c) Amortization of bond discount for the year, using the straight-line method of amortization