Billy's Inc. issued 6%, 10-year bonds at 80 on December 31, 2018. Reported on the company's December 31, 2020, balance sheet was the following: (Click the icon to view the bonds payable.) Semi-annual interest is each June 30 and December 31. The straight-line amortization method is used. (Round amounts to the nearest whole dollar throughout, as applicable) Requirement 1: a. What is the maturity value of the bonds? $ 700.000 b. What is the carrying amount of the bonds at December 31, 202075 588,000 Requirement 2. Prepare the company's entry on June 30, 2020. (Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit 2020 Jun 30 Interest Expense Discount on Bonds Payable Cash 21,000 Paid semiannual interest and amortized discount * Data Table Long-term Liabilities: Bonds Payable able.) $ 700,000 (112,000) $ Less: Discount on Bonds Payable 588,000 Print Done 21,000