Bonds Use the following information for questions 14-15 below. On January 1, 2014, Houston Company authorized a $1,000,000, 10-year, 6% coupon bond, with annual interest to be paid each December 31. The market rate of interest at the time the bonds were issued was 8%. ROUND ALL ANSWERS TO TWO DECIMAL PLACES (e.g., $123.45). 14. Prepare the required journal entry to record the sale of the bonds (6 points) 15. Prepare the required journal entry on December 31, 2014 to record the bond interest payment for the year. (3 points) 16. Prepare the required journal entry on December 31, 2015 to record the bond interest payment for the year. (3 points)