On 1 July 2023, Mabel Ltd privately issues $1 million in six-year bonds, which pay interest every six months at a coupon rate of 6% per annum. At the time of issuing the securities, the market requires a rate of return of 4%. Consistent with the requirements of AASB 9, the bonds are accounted for using the effective-interest method. Required: (a) Determine the fair value of the bonds at the time of issue. (b) Provide the journal entries at: 1. 1 July 2023 ii. 31 December 2023 iii. 30 June 2024