Coffman Company sold bonds with a face value of $1,000,000 for $940,248. The bonds have a coupon rate of 10 percent, mature in 10 years, and pay interest semiannually every June 30 and December 31 . All of the bonds were sold on January 1 of this year. Using a discount account, record the sale of the bonds on January 1 and the payment of interest on June 30 of this year. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 11 percent. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the sale of the bonds on January 1. Note: Ente dreits before ciedits. Coffman Company sold bonds with a face value of $1,000,000 for $940,248. The bonds have a coupon rate of to percent, mature in 10 years, and pay interest semiannually every June 30 and December 31 . All of the bonds were sold on January 1 of this year. Using a discount occount, record the sale of the bonds on January 1 and the payment of interest on June 30 of this year. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 11 percent. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the payment of interest on June 30 using the effective-interest amortization method: Note: Ente debis before ciedits