Police Company issued a $1,100,000, 7 %, 5-year bond payable at face value on January 1, 2018. Interest is paid semiannually on January 1 and July 1 Requirements Journalize the issuance of the bond payable on January 1, 2018. 1. n July 1, 2018. 2. Journalize the payment of semiannual interest Requirement 1. Journalize the issuance of the bond payable on January 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Debit Credit Date Accounts and Explanation 2018 Jan 1 Requirement 2. Journalize the payment of semiannual interest on July 1, 2018. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Date Accounts and Explanation Debit Credit 2018 Jul. 1