A company purchased bonds on July 1, 2021 with a face value of $200,000 as an investment. These bonds are 7 year, 5% bonds. The bonds pay interest semi-annually on June 30 and Dec. 31 and were priced to yield 9% interest. The company received the first interest payment on Dec. 31, 2021. The company plans to hold on to these bonds and use the interest payments over the next 7 years to help fund company benefits for employees. (You do not need to record any of the employee benefit costs; they have already been accounted for. Just do the entries related to the bonds.) The bonds were selling at 94 on Dec. 31, 2021. Prepare any required journal entries, and show all supporting calculations.