EXERCISE 3 (Valor 10 puntos) Gardner Corporation issues $3,750,000, 10-year, 12% bonds on January 1, 2012, at $3,968,090, to yield 10%. The bonds pay semiannual interest July 1 and January 1. Gardner uses the effective interest method of amortization. Instructions (a) Prepare the journal entry to record the issuance of the bonds. (b) Prepare the journal entry to record the payment of interest on July 1, 2012 GENERAL JOURNAL PAGE 1 DATE PR. DEBIT DESCRIPTION CREDIT