Federal Semiconductors issued 8% bonds, dated January 1, with a face amount of $870 million on January 1, 2016. The bonds sold for $789,954,084 and mature on December 31, 2035 (20 years). For bonds of similar risk and maturity the market yield was 9%. Interest is paid semiannually on June 30 and December 31 Required: 1. to 3. Prepare the journal entry to record their issuance by Federal on January 1, 2016, interest on June 31, 2016 (at the effective rate) and interest on December 31, 2016 (at the effective rate). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet 2 Record the interest on December 31, 2016 (at the effective rate) Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2016 Record entry Clear entry View general journal