Please answer BOTH parts of this question, and make sure that you clearly indicate in a specified area (box, highlight, boldface, etc.) what the exact answers are. Also, the second part of the Jounrnal Entry worksheet asks to "Record the interest payment on December 31" although you can't see it. Thank you!

On January 1, Applied Technologies Corporation (ATC) issued $610,000 in bonds that mature in 10 years. The bonds have a stated interest rate of 8 percent. When the bonds were issued, the market interest rate was 8 percent. The bonds pay interest once per year on December 31. Required: 1. Determine the price at which the bonds were issued and the amount that ATC received at issuance. Complete the required journal entries to record the bond issuance and the first interest payment on December 31 assuming no interest has been accrued earlier in the year. (lf no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)