A company issues 7%,10-year bonds with a face amount of $80,000 for $85,951 on January 1,2021 . The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually on June 30 and December 31 . Required: 1. \& 2. Record the bond issue and first interest payment on June 30, 2021. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) Journal entry worksheet 2