Exercise 14-6 (Algo) Bonds; issuance; effective interest [LO14-2] The Gorman Group issued $860,000 of 9% bonds on June 30,2021 , for $945,110. 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)