On January 1, 2021, kingbird corporation issued $600000 of 7% bonds due on January 2029 when the market rate was 5%. The company uses the effective interest method to amortise any bond or discount. The bonds pay semi-annual interest on June 30 and December 31 of every year. What is the journal entry to record the issuarance of the bonds. Prepare all journal entries that will be recorded by kingbird cooperation for the year 2021