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On July 1, 2014, SKY PLC issues 2 million euros in a 10-year debenture that pays interest rates every six months at a coupon rate

On July 1, 2014, SKY PLC issues 2 million euros in a 10-year debenture that pays interest rates every six months at a coupon rate of 6%. At the time of issuing securities the market requires a rate of return of 8%. Interest Expense is determined using the effective interest rate method, Provide the journal entries on July 1 2014 and 30th June 2015

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