Coffman Company sold bonds with a face value of $1,000,000 for $934,960. The bonds have a coupon rate of 8 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. Record the sale of the bonds on January 1 and the payment of interest on June 30 of this year, without the use of a discount account. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 9 percent. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to nearest whole dollar.) Journal entry worksheet Record the payment of interest on June 30 using the effective-interest amortization method. Note: Enter debits before credits. Coffman Company sold bonds with a face value of $1,000,000 for $934,960. The bonds have a coupon rate of 8 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. Record the sale of the bonds on January 1 and the payment of interest on June 30 of this year, without the use of a discount account. Coffman uses the effective-interest amortization method. Assume an annual market rate of interest of 9 percent. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round final answers to nearest whole dollar.) Journal entry worksheet 2 Record the sale of the bonds on January 1. Note: Enter debits before credits