Power Company issued a $1,000,000, 5%, five-year bond payable at face value on January 1, 2024. Interest is paid semiannually on January 1 and July 1. Requirements 1. Journalize the issuance of the bond payable on January 1, 2024. 2. Journalize the payment of semiannual interest on July 1, 2024. Requirement 1. Journalize the issuance of the bond payable on January 1, 2024. (Record debits first, then credits. Select explanations on the last line of the journal e Date Accounts and Explanation Debit Credit 2024 Jan. 1 Requirement 2. Journalize the payment of semiannual interest on July 1, 2024. (Record debits first, then credits. Select explanations on the last line of the journal entr Date Accounts and Explanation Debit Credit 2024 Jul. 1