E10-7 (Algo) Preparing Journal Entries to Record Issuance of Bonds and Payment of Interest [LO 10-3] On January 1, Applied Technologles Corporation (ATC) issued $630,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 10 percent. When the bonds were issued, the market interest rate was 10 percent. The bonds pay interest once per year on December 31. Required: 1. Determine the price at which the bonds were issued and the amount that ATC received at issuance. 2. \& 3. Prepare the required journal entries to record the bond issuance and the first interest payment on December 31 assuming no interest has been accrued earlier in the year. Complete this question by entering your answers in the tabs below. Determine the price at which the bonds were issued and the amount that ATC received at issuance. omplete this question by entering your answers in the tabs below. epare the required journal entries to record the bond issuance and the first interest payment on December 3 is been accrued earlier in the year. (If no entry is required for a transaction/event, select "No Journal Entry R count field.) Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet Record the interest payment on December 31. Note: Enter debits before credits