6) ABC Company issues $400,000 face value bonds ( 5 year) that pay 5% interest. ABC Company receives $420,000 for these bonds on January 1th,2015. Interest payments are made on a semi-annual basis beginning on July 1st,2015. Required: Prepare the journal entry to record the issuance of the bonds and prepare the journal entry to record the first 2 payments of bond interest. (Hint: Remember, the 5% is an annual interest rate)