On January 1, 2024, for $16 million, Monument Company purchased 10 year, 11% bonds, dated January 1,2024 , with a face amour $20 million. For bonds of similar risk and maturity, the market yield is 14%. Interest is paid semiannually on June 30 and December Required: 1. Prepare the journal entry to record interest on June 30,2024 , using the straight-line method. 2. Prepare the journal entry to record interest on December 31,2024 , using the straight-line method. Complete this question by entering your answers in the tabs below. Prepare the journal entry to record interest on June 30, 2024, using the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1 ). Journal entry worksheet Record interest on June 30, 2024, using the straight-line method. Note: Enter debits before credits. Prepare the journal entry to record interest on December 31,2024 , using the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1). Journal entry worksheet Record interest on December 31, 2024, using the straight-line method. Note: Enter debits before credits