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Coffman Company issued 1,000,000 10 year 10 percent bonds January 1, 2014. The bonds sold for 1,000,000. Interest is payable semiannually each June 30 and

Coffman Company issued 1,000,000 10 year 10 percent bonds January 1, 2014. The bonds sold for 1,000,000. Interest is payable semiannually each June 30 and December 31. Record the sale of the bonds on January 1, 2014, and the payment of interest on June 30, 2014.

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