On January 1, 2021, Hakim Corporation issued $600,000, 7%, 10-year bonds. The bonds pay semi-annual interest on July 1 and January 1. The market interest rate at the time of issue was 6%. Hakim uses the effective-interest method. Instructions: (a) Calculate the issue price of the bonds (round to nearest dollar). (2. Marks) (b) Prepare the journal entry to record the issue of the bonds on January 1, 2021. (2 Marks) (c) Prepare the journal entry to record the first interest payment on July 1, 2021. 3 Marks)