On January 1, Year 1. a company issues $590,000 of 6% bonds, due in 20 years, with interest payable semiannually on June 30 and December 31 each year. Required: Assuming the market interest rate on the issue date is 6%, the bonds will issue at $590,000. Record the bond issue on January 1 Year 1, and the first two semiannual interest payments on June 30, Year 1 and December 31. Year 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 3 Record the bond issue Note Enter debits before credits Date January 01 Credit General Journal Cash Bonds Payable Debit 590,000 500,000 Journal entry worksheet 1 2 3 > Record the first semiannual interest payment. Note: Enter debits before credits Date General Journal June 30 Debit Credit Journal entry worksheet