A company issues 8%, 5-year bonds on 1/1/15, with a par value of $1,000,000 and semiannual interest payments. Prepare the following journal entries

A company issues 896, 5-year bonds on 1/1/15, with a par value of $1,000,000 and semiannual interest payments. Prepare the following journal entries: (15 points) a. On 1/1/15, the bonds are sold for $884,200 Account Debit Credit b. On 7/1/15, the first semiannual interest is paid and the related bond discount is amortized using the straight-line method. Debit Credit