On October 1, 2015 Macklin Corporation issued 5%, 10-year bonds with a face value of $1,000,000 at $1,080,000 (a 4% yield). Interest is paid on October 1 and April 1, with any premiums or discounts amortized on an effective-interest basis, the entry to record the issuance of the bonds would include a credit of $1,000,000 to Bonds Payable Ob $25,000 to Interest Payable Oc. $1,080,000 to Bonds Payable Od $80,000 to Bonds Payable