Masks, Inc. issued $1,000,000 4%, 20-year bonds on January 1, 202X when market interest rates were at 6% at time of issuance. Masks, Inc. received $950,000. The company pays interest on a semiannual basis. Record (1) the issuance of the Masks, Inc.s $1,000,000 4%, 20-year bonds and (2) first interest payment on June 30, 2020.