Madrid Company plans to issue 10% bonds with a par value of $4,800,000. The company sells $4,320,000 of the bonds at par on January 1. The remaining $480,000 sells at par on July 1. The bonds pay interest semiannually on June 30 and December 31. 1. Record the entry for the first interest payment on June 30. 2. Record the entry for the July 1 cash sale of bonds. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Record the entry for the first interest payment on June 30. View transaction list Journal entry worksheet Record the entry for semiannual interest paid. Note: Enter debits before credits. Date General Journal Debit Credit June 30 Record entry Clear entry View general journal Record the sale of bonds for cash on July 1. Note: Enter debits before credits. General Journal Debit Credit Date July 01