On June 30, 2017, Mitty Inc. issues $5,000,000 face value bonds with a coupon rate of 5% issued to yield 7%. The bonds pay interest semi-annually on June 30 and December 31 and mature 20 years from the date of issuance. Mitty Inc uses the effect-interest rate method for recording bond amortization. Please show all work. Required: Prepare the journal entry for the bonds at the date of issuance. Required: Prepare the journal entry at June 30, 2018.