5. On January 1, 2020, Hollis Inc. issues $1,000,000 of 4.5% bonds, due in ten years, with interest payable annually on January 1. The bonds issue at $961,391, which resulted in an effective interest rate on the bonds of 5%. Record the bond issue on January 1, 2020, the payment of interest on December 31, 2020, the payment of interest on December 31, 2021. 1/1/20 12/31/20 12/31/21