Emery Trust Inc. issued $100,000, a 5-year bond on January 1, 2022 paying 6% interest on a semi-annual basis every January 1 and July 1. Instructions Using the following present value tables, prepare the first-year journal entries for the bond issue and interest expense assuming that the company uses the effective interest method, a market interest rate of 4% and has a year-end of December 31, 2022. Present Value of an Annuity Present Value for Lump Sum Payment $1