A company issues 20,000,000, 7,8%, 20-year bonds to yield 8% on January 1, 2022. Interest is paid on June 30 and January 1. The proceeds from the bonds are 19,604,145.

1- Prepare the journal entry to record the issuance of a bond on January 1, 2022.

2- Prepare the journal entry to record the interest payment on June 30, 2022