23....... required 2

23 On January 1, 2021, for $18 million, Monument Company purchased 10 year, 10% bonds, dated January 1, 2021, with a face amount of $20 million. For bonds of similar risk and maturity, the market yield is 12%. Interest is paid semiannually on June 30 and December 31. 01:36:05 Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the straight-line method. 2. Prepare the journal entry to record interest on December 31, 2021, using the straight- line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to record interest on December 31, 2021, using the straight-line me transaction/event, select "No journal entry required" in the first account field). (Enter your an 1,000,000 not 1.0.) View transaction list Journal entry worksheet method. DescriptionRecord interest on December 31, 2021, using the straight-line Note: Enter debits before credits. Transaction General Journal Debit Credit