Power Company issued a $1,300,000, 11%, 10-year bond payable at at face value on January 1, 2016. Requirements 1. Journalize the issuance of the bond payable on January 1, 2016. 2. Journalize the payment of semiannual interest on July 1, 2016. (Record debits first, then credits. Select explanations on the last line of the journal entry.) Requirement 1. Journalize the issuance of the bond payable on January 1, 2016 Debit Credit Date 2016 Cash Jan. 1 Accounts and Explanation