Exercise 14-6 (Algo) Bonds; issuance; effective interest [LO14-2] The Gorman Group issued $980,000 of 9% bonds on June 30, 2021, for $1,076,985. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30, 2021, interest on December 31, 2021 and interest on June 30, 2022 (at the effective rate). View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the bond on June 30, 2021. Note: Enter debits before credits. Date June 30, 2021 General Journal Debit Credit The Gorman Group Issued $980,000 of 9% bonds on June 30, 2021, for $1,076,985. The bonds were dated on June 30 and mature on June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 and June 30. Required: 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30, 2021, interest on December 31, 2021 and Interest on June 30, 2022 (at the effective rate). View transaction list Journal entry worksheet < 1 2 3 Record the interest on December 31, 2021 (at the effective rate). Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit The Gorman Group issued $980,000 of 9% bonds on June 30, 2021, for $1,076,985. The bonds were dated on June 30 and mature om June 30, 2041 (20 years). The market yield for bonds of similar risk and maturity is 8%. Interest is paid semiannually on December 31 and June 30, Required: 1. to 3. Prepare the journal entries to record their issuance by The Gorman Group on June 30, 2021, interest on December 31, 2021 and interest on June 30, 2022 (at the effective rate). View transaction list Journal entry worksheet < 1 2 Record the interest on June 30, 2022 (at the effective rate). Note: Enter debits before credits. Date June 30, 2022 General Journali Debit Credit