ABC Township issues a $1,200,000 general obligation 4%, 10-year bond at par that pays interest to bondholders once a year. The bond will be used for general government operations. ABC Township pays $48,000 in interest on the bond and the $1,200,000 principal in the 10th year. Prepare the journal entry to record the issuance of the bond in year 1 and the journal entry to record the final payment of the bond with interest in the 10th year