E10-8 On January 1, Payne Company issued $200,000,8%,10-year bonds at face value. Interest is payable semiannually on July 1 and January 1. Prepare entries for issuance Instructions Prepare journal entries to record the following. of bonds, and payment and accrual of bond interest. (a) The issuance of the bonds. (b) The payment of interest on July 1, assuming that interest was not accrued on June 30 . (c) The accrual of interest on December 31