EXERCISE 12-1 (1) Star Corp. issued $500,000 of 10-year, 12% bonds on June 1 of the current . Journalize the year with interest payable on June 1 and December 1 entries to record the following selected transactions for the current year June 1 Issued the bonds for cash at face amount. Dec. 1 Paid the interest on the bonds. JOURNAL PAGE POST REF DATE DESCRIPTION DEBIT CREDIT (2) On April ,1, Turner Inc. issued $1,000,000 of 10-year, 11% bonds, with interest payable semiannually on April 1 and October 1 at an effective interest rate of 12%, receiving cash of $942,645. Journalize the entries to record the following selected transactions for the current year: Apr. 1 Sold the bonds. Oct. 1 Made first interest payment and amortized discount for six months using the straight-line method. IOURNA