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On July 31, 2021, Sunland Inc. issued $550,000 of 5-year, 4% bonds at 104. Interest is payable semi-annually on July 31 and January 31. Sunland's scal year end is January 3 1. Is the market rate of interest higher or lower than 4%? The market rate of interest is eTextbook and Media List of Accounts Question Part Score "10.15 Record the issue of the bonds on July 31, 2021. [Credit account titles are automatically indented when the amount is entered. Do not indent manually. lf no entry is required, select \"Na Entry\"r for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit July 31 {To record issuance of bonds.) eTextbook and Media List of Accounts Question Part Score --/0.35 Record the payment of interest on January 31, 2022. assuming the semi-annual amortization amount for this interest period is $1,015. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. if no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit Jan.3l (To record interest payment.)