Issuing bonds at face amount

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Instructions

On January $1,$ the first day of the fiscal year, Designer Fabric Inc. issues a $$3,000,000,8\%,10-$year bond that pays semiannual interest of year$),$ receiving cash of $$3,000,000.$

Journalize the entries to record $($a$)$ the issuance of the bonds, $($b$)$ the first interest payment on June $30,$ and $($c$)$ the payment of the principal on the maturity date of December $31$ on page $11.$ Refer to the Chart of Accounts for exact wording of account titles.