On January 1, 2021, for $17.7 million, Marker Company issued 8% bonds, dated January 1, 2021, with a face amount of $19.7 million. For bonds of similar risk and maturity, the market yield is 10%. Interest is paid semiannually on June 30 and December 31. Required: 1. Prepare the journal entry to record interest on June 30, 2021, using the effective interest method. 2. Prepare the journal entry to record interest on December 31, 2021, using the effective interest method