Cloverdale Country Rodeo Inc. (CCRI) sells $1,000,000 of 10-year, 6% bonds for $980,500 plus accrued interest. The bonds are dated January 1, 2021, but due to market conditions are not issued until April 1, 2021. Interest is payable on June 30 and December 31 each year. CCRI elects to report its financial results in accordance with ASPE and uses the straight-line method to amortize the bond discount.

Required:

Prepare journal entries to record:
a. The issuance of the bonds on April 1, 2021. Assume that CCRI has adopted a policy of crediting accrued interest payable for the accrued interest on the date of sale.
b. Payment of interest on June 30, 2021.
c. Payment of interest on December 31, 2021.