Cupola Fan Corporation issued 10%, $500,000, 10-year bonds for $450,000 on June 30, 2021. Debt issue costs were $20,000. Interest is paid semiannually on December 31 and June 30. The corporation uses the effective interest method both to determine interest expense and to amortize debt issue costs. The market rate for similar types of bond are 12%. Required: Prepare the journal entries to record the issuance of the bonds on June 30, 2021 and the payment of interest and amortization of debt issue costs on December 31, 2021