On September 30, 2020, Glittery Company issued a $800,000 10-year bond at 7% when the market rate was 9%. It was sold at 87 and they will account for interest on the bond using the effective interest calculation method. Interest payments are made on September 30 and March 31 of each year. Glitter's year-end is December 31. Prepare all the appropriate journal entries related to this bond for 2020 and the first interest payment in 2021, with all calculations included