On January 1, 2020 , Vancouver Canucks Co. ( VCC) issued $ 1,000,000 of 5- year, 3% bonds at a price of \$955,087 with semi-annual interest payments (paid on July 1 and January 1 every year). The market interest rate on that date was 4%. VCC has a December 31 year end. Required: Record the following journal entries: a) The issue of the bonds on January 1, 2020 (1 mark) b ) The payment of interest on July 1, 2020 (3 marks) The accrual of interest on December 31, 2020 (3 marks) Assume now that the bond was issued at a price of \$1,089,826 and the coupon rate was 6% ( with the market rate remaining at 4% ). Record the payment of interest on July 1, 2020 (3 marks )