Power Company issued a $600,000, 12%, 5-year bond payable at at face value on January 1, 2016. 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. Check your spelling carefully and do not abbreviate.) 1. Journalize the issuance of the bond payable on January 1, 2016. 2. Journalize the payment of semiannual interest on July 1, 2016