Lacrosse Inc. issued on January 1, 2021 a ten-year $30 million bond with a contract rate of interest listed at 8 percent. The market rate of interest on January 1, 2021 was 12 percent. Cash interest payments are semi-annually. The total amount of interest expense paid in cash by UConn for the entire period of the bond from January 1, 2021 to December 31, 2030? What is the journal entry required to post the bond sale on January 1, 2021